NJ S399

LLCs and foreign LLCs acquiring residential rental property (1-2 units or multiple dwellings) must submit an affidavit disclosing the registered agent's name and business address, plus at least one member's information if the agent is not a member.

The affidavit must include beneficial owner information: full legal name, date of birth, current business address, and a unique identifying number from acceptable identification documents.

"Beneficial owner" is defined as an individual who directly or indirectly owns at least 25% of the entity and holds the greatest ownership interest, or the individual with the greatest interest if no one owns more than 25%.

Municipalities may adopt ordinances allowing housing, building, or health code charges against non-compliant LLC landlords to become liens on the property after 13 months, enforceable like property tax liens.

Violations carry a penalty of $5,000 per violation, with each month of continued violation constituting a separate offense.