178.0107 Partnership agreement; effect on third parties and relationship to records effective on behalf of partnership.
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/wi/chapter-178/178-0107A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
178.0107 Partnership agreement; effect on third parties and relationship to records effective on behalf of partnership.
(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
(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: