Enacts the "fostering affordability and integrity through reasonable (FAIR) business practices act", to expand the attorney general's ability to protect New Yorkers from unfair, deceptive and abusive business practices.
Amends the definitions of the terms "beneficial owner", "reporting company" and "exempt company" to set the scope of certain provisions relating to beneficial owners of limited liability companies; authorizes the department of state to further clarify any such definitions.