N.Y. Limited Liability Company Law § 1206: Purposes of formation

§ 1206. Purposes of formation. No professional service limited

liability company shall engage in any profession or professions other

than those set forth in its articles of organization. A professional

service limited liability company may only engage in a profession or

professions as to which one or more of its members is authorized by law

to render professional services in this state. In addition to engaging

in such profession or professions, a professional service limited

liability company may carry on, or conduct or transact any other

business or other activities as to which a limited liability company may

be formed under section two hundred one of this chapter. Notwithstanding

any other provision of this section, and subject to the next succeeding

sentence of this section, a professional service limited liability

company (i) authorized to practice law may only engage in another

profession or other business or activities or (ii) which is engaged in a

profession or other business or activities other than law may only

engage in the practice of law, to the extent not prohibited by any other

law of this state or any rule adopted by the appropriate appellate

division of the supreme court or the court of appeals. Any professional

service limited liability company may invest its funds in real estate,

mortgages, stocks, bonds or any other type of investments.