Wisconsin Code § 178.0107

Partnership agreement; effect on third parties and relationship to records effective on behalf of partnership
Open in Lexace · Ask the AI about this section
(1) A partnership agreement may specify that its
amendment requires the approval of a person that is not a party to
the agreement or the satisfaction of a condition. An amendment
is ineffective if its adoption does not include the required approval or satisfy the specified condition.

(2) The obligations of a partnership and its partners to a person in the person’s capacity as a transferee or person dissociated
as a partner are governed by the partnership agreement. Subject
only to a court order issued under s. 178.0504 (2) (b) to effectuate
a charging order, all of the following apply to an amendment to
the partnership agreement made after a person becomes a transferee or is dissociated as a partner:
(a) Except as provided in par. (b), the amendment is effective
with regard to any debt, obligation, or other liability of the partnership or its partners to the person in the person’s capacity as a
transferee or person dissociated as a partner.
(b) The amendment is not effective to the extent the amendment does any of the following:
1. Imposes a new debt, obligation, or other liability on the
transferee or person dissociated as a partner.
2. Prejudices the rights under s. 178.0701 of a person that
dissociated as a partner before the amendment was made.
(3) If a record delivered by a partnership to the department for
filing becomes effective and contains a provision that would be
ineffective under s. 178.0105 (3) or (4) (c) if contained in the
partnership agreement, the provision is ineffective in the record.
(4) Subject to sub. (3), if a record delivered by a partnership to
the department for filing becomes effective and conflicts with a
provision of the partnership agreement, all of the following
apply:
(a) The agreement prevails as to partners, persons dissociated
as partners, and transferees.
(b) The record prevails as to other persons to the extent they
reasonably rely on the record.

‹ Prev All Wisconsin sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.