Which of the following statements about limited liability partnerships (LLPs)is false?
A)The LLP's name must end with the acronym "RLLP."
B)The partners of an LLP must expressly agree to create an LLP by complying with an LLP statute.
C)The formation of an LLP requires filing a form with the secretary of state.
D)The formation of an LLP requires paying an annual fee.

Question

Quizplus · Accepted Answer

Unlike an ordinary partnership,a limited liability partnership (LLP)may not be created merely by partners conducting a business together.The partners must expressly agree to create an LLP by complying with a limited liability partnership statute.The formation of an LLP requires filing a form with the secretary of state,paying an annual fee,and adding the words "Registered Limited Liability Partnership," "Limited Liability Partnership," or the acronym "RLLP" or "LLP" to the partnership's name.

Which of the Following Statements About Limited Liability Partnerships (LLPs)is