Wisconsin § 178.0107 - Partnership agreement; effect on third parties and relationship to records effective on behalf of partnership.

§ 178.0107. Partnership agreement; effect on third parties and relationship to records effective on behalf of partnership.

178.0107(1) (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. 178.0107(2) (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 (2) (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: 178.0107(2)(a) (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. 178.0107(2)(b) (b) The amendment is not effective to the extent the amendment does any of the following: 178.0107(2)(b)1. 1. Imposes a new debt, obligation, or other liability on the transferee or person dissociated as a partner. 178.0107(2)(b)2. 2. Prejudices the rights under s.