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Wis. Stat. § 179.0301

Becoming limited partner

Known as the Wisconsin Uniform Limited Partnership Law

The act spans §§ 179.0101 to 179.1202 (129 sections).

2021 a. 258.

(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.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.