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Part $1$

Which of the following is NOT true about a limited liability partnership$($LLP$)?$

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Part $1$

A$.$

The LLP is a domestic LLP in the state in which it is organized.

B$.$

A certificate of limited liability partnership is a private document.

C$.$

An LLP is created formally by filing articles of limited liability partnership with the secretary of state of the state in which the LLP is organized.

D$.$

The LLP law of the state governs the operation of the$$ LLP; however, an LLP may do business in other states.

E$.$

Many state laws require LLPs to carry a minimum of$$ $$1$ million of liability insurance that covers$$ negligence, wrongful$$ acts, and misconduct by partners or employees of the LLP$.$