179.0301 Becoming limited partner.
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/wi/chapter-179/179-0301A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
179.0301 Becoming limited partner.
(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
(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.