$13$

$4$ points

When forming an LLC$,$ each of the following is true except for:

in a manager$-$managed LLC$,$ the LLC can be managed by designated nonmembers.

the members of the LLC may enter into an operating agreement $($which in six states is required$)$ to regulate the business of the LLC and the relations among members and managers.

a member's capital contribution must be in the form of money $($cash$).$

a certificate of interest is the digital or paper evidence of a member's ownership interest in the LLC$.$

in a member$-$managed LLC$,$ the LLC is managed by all the members.

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