(1) Upon formation of a limited partnership, a person becomes a limited partner as agreed among the persons that are to be the initial partners. (2) After formation of a limited partnership, a person becomes a limited partner in any of the following ways: (a) As provided in the partnership agreement. (b) As the result of a transaction effective under subch. XI. (c) With the affirmative vote or consent of all the partners. (d) As provided in s. 179.0801 (1) (d) or (e). (3) A person may become a limited partner without doing any of the following: (a) Acquiring a transferable interest. (b) Making or being obligated to make a contribution to the limited partnership.
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