N.Y. GBS Law § 1428 — New York Code / Act GBS / Article 44-B / Section 1428
Large frontier developer disclosure
Status: in_force

* § 1428. Large frontier developer disclosure. 1. Except as otherwise\nprovided in this section, no large frontier developer may develop,\ndeploy, or operate a frontier model, in whole or in part in New York\nstate, without having a current disclosure statement filed with the\noffice and paying the required share.\n  2. The disclosure statement shall be filed in the form and the manner\nprescribed by the office and shall contain all the information required\nby the office. It shall be renewed every two years, whenever ownership\nof the frontier model is transferred or whenever there is a material\nchange to the information reported in the previously filed disclosure\nstatement, whichever occurs earlier.\n  3. Such disclosure statement shall identify:\n  (a) the identity of the large frontier developer and all names under\nwhich such large frontier developer conducts business;\n  (b) the address of the principal place of business and the address of\neach office it maintains in New York state;\n  (c) in the event such large frontier developer or the ultimate parent\nof such large frontier developer is a privately or closely held company,\na list of all persons or entities that beneficially own a five percent\nor greater interest in such large frontier developer at the time of the\nfiling of the disclosure statement and a list of persons who formerly\nbeneficially owned a five percent or greater interest in such owner or\nits predecessors in the preceding five years. In the event such owner or\nthe ultimate parent is a publicly traded company, such owner shall file\na list of all persons or entities that beneficially own a fifty percent\nor greater interest in the large frontier developer at the time of\nregistration; and\n  (d) the name and contact information of a point of contact, secondary\ncontact, and tertiary contact for such large frontier developer. Such\npoint of contact shall be responsible for receiving inquiries relating\nto this article from the office or other governmental entities.\n  4. Large frontier developers shall be assessed in pro rata shares by\nthe department to defray the operating expenses, including all direct\nand indirect costs, of administering the obligations imposed by this\narticle.\n  5. If any person develops, deploys, or operates a large frontier model\nin part in New York state without a current disclosure filed with the\noffice as required by this section, submits false information in its\ndisclosure or fails to timely pay any assessment required by this\narticle, in addition to any other penalty or liability that may be\nimposed under this article, the office may, after notice and hearing,\nlevy civil penalties, fees, and costs as follows:\n  (a) a civil penalty of one thousand dollars for each day the entity\nfails to file a disclosure as required by this section or fails to\ncorrect false information; and\n  (b) an amount equal to the assessments owed.\n  6. The office shall maintain and publish a list of large frontier\ndevelopers who have filed disclosure statements, however such\npublication shall not include the contact information set forth in\nparagraph (d) of subdivision three of this section.\n  * NB Effective January 1, 2027\n