(a) It is the intention of the legislature by the enactment of this chapter that the legal existence of a limited liability company formed under this chapter be recognized beyond the limits of this state and that, subject to any reasonable registration requirements, any such limited liability company transacting business outside this state shall be granted the protection of full faith and credit under section l of article IV of the Constitution of the United States.\n(b) The provisions of this chapter shall determine the rights and obligations of a domestic limited liability company, organized under this chapter, in commerce with foreign nations and among the several states, except as prohibited by law.
New York Legal Code