178.0601 Events causing dissociation.
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/wi/chapter-178/178-0601A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
178.0601 Events causing dissociation. A person is dissociated as a partner when any of the following applies:
(1)The partnership knows or has notice of the person’s express will to withdraw as a partner, but, if the person has specified a withdrawal date later than the date the partnership knew or had notice, on that later date.
(2)An event stated in the partnership agreement as causing the person’s dissociation occurs.
(3)The person is expelled as a partner pursuant to the partnership agreement.
(4)The person is expelled as a partner by the affirmative vote or consent of all the other partners if any of the following applies:
(a)It is unlawful to carry on the partnership business with the person as a partner.
(b)There has been a transfer of all of the person’s transferable interest in the partnership, other than a transfer for security purposes or the entry of a charging order that is in effect under s. 178.0504 and that has not been foreclosed.
(c)The person is an entity and all of the following apply:
1. The partnership notifies the person that it will be expelled as a partner because the person has filed a statement of dissolution or the equivalent, the person has been administratively dissolved, the person’s charter or the equivalent has been revoked, or the person’s right to conduct business has been suspended by the jurisdiction of the person’s governing law.
2. The statement of dissolution or the equivalent has not been withdrawn, rescinded, or revoked, the person has not been reinstated, or the person’s charter or the equivalent or right to conduct business has not been reinstated, within 90 days after the notification under subd. 1.
(d)The person is an unincorporated entity that has been dissolved and whose activities and affairs are being wound up.