178.0306 Partner’s liability.
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/wi/chapter-178/178-0306A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
178.0306 Partner’s liability.
(1)Except as otherwise provided in subs.
(2)to
(3m), all partners are liable jointly and severally for all debts, obligations, and other liabilities of the partnership unless otherwise agreed by the claimant or provided by law.
(2)A person that becomes a partner is not personally liable for a debt, obligation, or other liability of the partnership incurred before the person became a partner.
(a)Except as provided in sub.
(3m), a debt, obligation, or other liability of a partnership incurred while the partnership is a limited liability partnership is solely the debt, obligation, or other liability of the limited liability partnership. A partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such a debt, obligation, or other liability of the limited liability partnership solely by reason of being or acting as a partner.
(b)This subsection applies despite anything inconsistent in the partnership agreement that existed immediately before the vote or consent required to become a limited liability partnership under s. 178.0901
(2).
(c)This subsection applies regardless of the dissolution of the limited liability partnership.
(a)To the extent a partnership has or is deemed to have elected under par.
(b)to have this par.
(a)apply, sub.
(3)does not affect the liability of a partner in a limited liability partnership for any of the following that occurs while the partnership is subject to this subsection: