AB150: Bill Text

AB150,1530,5 177.30 (2) The administrator, at reasonable times and upon reasonable notice, may examine the records of any person to determine whether the person has complied with this chapter. The administrator may designate the commissioner of banking department of financial institutions or other appropriate regulatory authority to examine the records of regulated institutions to determine if the institutions have complied with this chapter. The administrator may conduct the examination even if the person believes it is not in possession of any property reportable or deliverable under this chapter.

AB150, s. 4498 Section 4498. 179.01 (2m) of the statutes is created to read:

AB150,1530,7 179.01 (2m) "Department" means the department of revenue.

AB150, s. 4499 Section 4499. 179.03 (2) of the statutes is amended to read:

AB150,1530,24 179.03 (2) The reservation shall be made by filing with the secretary of state department an application executed by the applicant to reserve a specified name together with a fee of $10, or making a telephone application to reserve a specified name. The fee for a telephone application to reserve a specified name for 60 days is $20. If the secretary of state department finds that the name is available for use by a domestic limited partnership or foreign limited partnership, the secretary of state department shall reserve the name for the exclusive use of the applicant for a period of 60 days. The secretary of state department shall cancel the telephone application to reserve a specified name if the secretary of state department does not receive the proper fee within 15 business days after the application. Once having reserved a name, the same applicant may not again reserve the same name until more than 60 days after the expiration of the last 60-day period for which that applicant reserved that name. The right to the exclusive use of a reserved name may be transferred to any other person by filing in the office of the secretary of state with the department, together with a fee of $10, a notice of the transfer executed by the applicant for whom the name was reserved and specifying the name and address of the transferee.

AB150, s. 4500 Section 4500. 179.04 (2) of the statutes is amended to read:

AB150,1531,6 179.04 (2) If a limited partnership fails to maintain an agent for service of process in this state or if the agent cannot with reasonable diligence be found, substituted service may be made on the secretary of state department by delivering duplicate copies of the process, together with a fee of $10. The secretary of state department shall forward one copy by registered mail, addressed to the limited partnership at its record office.

AB150, s. 4501 Section 4501. 179.11 (1) (intro.) of the statutes is amended to read:

AB150,1531,11 179.11 (1) (intro.) To form a limited partnership, a certificate of limited partnership must be executed and filed in the office of the secretary of state with the department. The certificate shall be filed together with a fee of $70 and shall contain all of the following information:

AB150, s. 4502 Section 4502. 179.11 (2) of the statutes is amended to read:

AB150,1531,16 179.11 (2) A limited partnership is formed at the time of the filing of the certificate of limited partnership in the office of the secretary of state with the department or at any later time specified in the certificate of limited partnership, if there has been substantial compliance with this section.

AB150, s. 4503 Section 4503. 179.12 (1) (intro.) of the statutes is amended to read:

AB150,1531,20 179.12 (1) (intro.) A certificate of limited partnership is amended by filing a certificate of amendment in the office of the secretary of state with the department, together with a fee of $25. The certificate shall specify all of the following:

AB150, s. 4504 Section 4504. 179.12 (6) of the statutes is amended to read:

AB150,1531,24 179.12 (6) Except as otherwise provided in this chapter or in the certificate of amendment, a certificate of amendment is effective on its filing in the office of the secretary of state department.

AB150, s. 4505 Section 4505. 179.13 (intro.) of the statutes is amended to read:

AB150,1532,6 179.13 Cancellation of certificate. (intro.) A certificate of limited partnership shall be canceled upon the dissolution and the commencement of winding up of the limited partnership or at any other time that there are no limited partners. A certificate of cancellation shall be filed together with a fee of $10 in the office of the secretary of state with the department and shall specify all of the following:

AB150, s. 4506 Section 4506. 179.14 (1) (intro.) of the statutes is amended to read:

AB150,1532,10 179.14 (1) (intro.) Each certificate required by this subchapter to be filed in the office of the secretary of state with the department shall be executed in the following manner:

AB150, s. 4507 Section 4507. 179.15 of the statutes is amended to read:

AB150,1532,18 179.15 Execution of certificate by court order. If a person required by s. 179.14 to execute any certificate fails or refuses to do so, any other person who is adversely affected by the failure or refusal, may petition the circuit court to direct the execution of the certificate. If the court finds that it is proper for the certificate to be executed and that any person so designated has failed or refused to execute the certificate, it shall order the secretary of state department to record an appropriate certificate.

AB150, s. 4508 Section 4508. 179.16 (title) of the statutes is amended to read:

AB150,1532,20 179.16 (title) Filing with the secretary of state department of revenue.

AB150, s. 4509 Section 4509. 179.16 (1) (intro.) of the statutes is amended to read:

AB150,1533,3 179.16 (1) (intro.)  Two signed copies of the certificate of limited partnership and of any certificates of amendment or cancellation or of any court order under s. 179.15 shall be delivered to the secretary of state department. A person who executes a certificate as an officer, general partner or fiduciary need not exhibit evidence of his or her authority as a prerequisite to filing. Unless the document does not conform to law, upon receipt of all filing fees the secretary of state department shall do all of the following:

AB150, s. 4510 Section 4510. 179.16 (1) (b) of the statutes is amended to read:

AB150,1533,5 179.16 (1) (b) File one duplicate original in his or her office the department.

AB150, s. 4511 Section 4511. 179.16 (2) of the statutes is amended to read:

AB150,1533,11 179.16 (2) Upon the filing of a certificate of amendment or court order of amendment in the office of the secretary of state department, the certificate of limited partnership shall be amended as set forth in the certificate or order, and upon the effective date of a certificate of cancellation or court order of cancellation, the certificate of limited partnership is canceled.

AB150, s. 4512 Section 4512. 179.16 (3) (a) (intro.) of the statutes is amended to read:

AB150,1533,14 179.16 (3) (a) (intro.) The secretary of state department may waive any of the following:

AB150, s. 4513 Section 4513. 179.16 (3) (a) 2. of the statutes is amended to read:

AB150,1533,18 179.16 (3) (a) 2. An omission or defect in a document, if the secretary of state department determines from the face of the document that the omission or defect is immaterial.

AB150, s. 4514 Section 4514. 179.16 (4) (intro.) of the statutes is amended to read:

AB150,1533,21 179.16 (4) (intro.) The secretary of state department shall charge and collect for:

AB150, s. 4515 Section 4515. 179.16 (5) of the statutes is amended to read:

AB150,1534,2 179.16 (5) The secretary of state department shall charge and collect, for processing a document required or permitted to be filed under this chapter in an expeditious manner, or preparing the information under sub. (4) in an expeditious manner, the expedited service fee under s. 14.38 (9) s. 73.20 (4) in addition to the fee required by other provisions of this chapter.

AB150, s. 4516 Section 4516. 179.18 of the statutes is amended to read:

AB150,1534,7 179.18 Notice conferred by filing. The fact that a certificate of limited partnership is on file in the office of the secretary of state with the department is notice that the partnership is a limited partnership and the persons designated as general partners are general partners, but it is not notice of any other fact.

AB150, s. 4517 Section 4517. 179.185 (1) of the statutes is amended to read:

AB150,1534,14 179.185 (1) A limited partnership may integrate into a single instrument the operative provisions of its certificate of limited partnership, as shown by the original certificate and amendments filed under this subchapter, and it may at the same time also further amend its certificate of limited partnership by adopting a restated certificate of limited partnership. The restated certificate shall be filed together with a fee of $25 in the office of the secretary of state with the department.

AB150, s. 4518 Section 4518. 179.185 (4) of the statutes is amended to read:

AB150,1534,20 179.185 (4) On filing the restated certificate with the secretary of state department, the original certificate, as amended under this subchapter, is superseded. After its filing, the restated certificate is the certificate of limited partnership of the limited partnership, but the original effective date of formation shall remain unchanged.

AB150, s. 4519 Section 4519. 179.19 of the statutes is amended to read:

AB150,1535,2 179.19 Delivery of certificates to limited partners. Upon the return by the secretary of state department under s. 179.16 of a certificate marked "Filed", the general partners shall promptly deliver or mail a copy of the certificate of limited partnership and each certificate to each limited partner unless the partnership agreement provides otherwise.

AB150, s. 4520 Section 4520. 179.24 (1) (b) of the statutes is amended to read:

AB150,1535,7 179.24 (1) (b) Withdraws from future equity participation in the enterprise by executing and filing in the office of the secretary of state with the department, together with a $15 filing fee, a certificate declaring withdrawal under this paragraph.

AB150, s. 4521 Section 4521. 179.82 (intro.) of the statutes is amended to read:

AB150,1535,13 179.82 Registration. (intro.) Before transacting business in this state, a foreign limited partnership shall register with the secretary of state department. A foreign limited partnership shall submit in duplicate, together with a filing fee of $75, an application for registration as a foreign limited partnership, signed and sworn to by a general partner and setting forth all of the following:

AB150, s. 4522 Section 4522. 179.82 (5) of the statutes is amended to read:

AB150,1535,18 179.82 (5) A statement that the secretary of state department is appointed the agent of the foreign limited partnership for service of process under s. 179.88 if the agent's authority has been revoked or the agent cannot be found or served with the exercise of reasonable diligence.

AB150, s. 4523 Section 4523. 179.83 (1) (intro.) of the statutes is amended to read:

AB150,1535,22 179.83 (1) (intro.) If the secretary of state department finds that an application for registration conforms to law and all requisite fees have been paid, he or she the department shall:

AB150, s. 4524 Section 4524. 179.83 (1) (b) of the statutes is amended to read:

AB150,1535,24 179.83 (1) (b) File in his or her office a duplicate original of the application.

AB150, s. 4525 Section 4525. 179.84 of the statutes is amended to read:

AB150,1536,3 179.84 Name. A foreign limited partnership may register with the secretary of state department under any name that includes without abbreviation the words "limited partnership" and that could be registered by a domestic limited partnership.

AB150, s. 4526 Section 4526. 179.85 of the statutes is amended to read:

AB150,1536,10 179.85 Amendments. If any statement in the application for registration of a foreign limited partnership was false when made or any arrangements or other facts described have changed, making the application inaccurate in any respect, the foreign limited partnership shall promptly file in the office of the secretary of state with the department, together with a filing fee of $15, a certificate, signed and sworn to by a general partner, correcting the statement.

AB150, s. 4527 Section 4527. 179.86 (1) of the statutes is amended to read:

AB150,1536,14 179.86 (1) A foreign limited partnership may cancel its registration by filing with the secretary of state department, together with a filing fee of $15, a certificate of cancellation signed and sworn to by a general partner.

AB150, s. 4528 Section 4528. 179.86 (2) of the statutes is amended to read:

AB150,1536,18 179.86 (2) A cancellation does not terminate the authority of the secretary of state department to accept service of process on the foreign limited partnership with respect to claims arising out of the transaction of business in this state.

AB150, s. 4529 Section 4529. 179.87 (4) of the statutes is amended to read:

AB150,1536,23 179.87 (4) A foreign limited partnership, by transacting business in this state without registration, appoints the secretary of state department as its agent for service of process under s. 179.88 with respect to claims arising out of the transaction of business in this state.

AB150, s. 4530 Section 4530. 179.88 of the statutes is amended to read:

AB150,1537,10 179.88 Substituted service. Service of process on the secretary of state department under this subchapter shall be made by serving of duplicate copies of the process on the secretary of state department, together with a fee of $10. The secretary of state department shall mail notice of the service and a copy of the process within 10 days addressed to the foreign limited partnership at its office in the state of its organization. The time within which the foreign limited partnership may answer or move to dismiss under s. 802.06 (2) does not start to run until 10 days after the date of the mailing. The secretary of state department shall keep a record of service of process under this section showing the day and hour of service and the date of mailing.

AB150, s. 4531 Section 4531. 180.0103 (6m) of the statutes is created to read:

AB150,1537,13 180.0103 (6m) "Department", except in subs. (8) and (18), means the department of revenue.

AB150, s. 4532 Section 4532. 180.0120 (1) (intro.) of the statutes is amended to read:

AB150,1537,18 180.0120 (1) (intro.) Except as provided in sub. (4), a document required or permitted to be filed under this chapter in the office of the secretary of state with the department must satisfy all of the following requirements to be filed under s. 180.0125 (2) (a):

AB150, s. 4533 Section 4533. 180.0120 (1) (d) of the statutes is amended to read:

AB150,1537,21 180.0120 (1) (d) Contain the name of the drafter, if required by s. 14.38 (14) 73.20 (3).

AB150, s. 4534 Section 4534. 180.0120 (1) (f) of the statutes is amended to read:

AB150,1537,24 180.0120 (1) (f) Be on the form prescribed by the secretary of state department if the document is described in s. 180.0121 (1).

AB150, s. 4535 Section 4535. 180.0120 (1) (g) of the statutes is amended to read:

AB150,1538,3 180.0120 (1) (g) Be delivered to the office of the secretary of state department for filing and be accompanied by one exact or conformed copy and the filing fee required by s. 180.0122.

AB150, s. 4536 Section 4536. 180.0120 (2) of the statutes is amended to read:

AB150,1538,7 180.0120 (2) The secretary of state department shall file photocopies or other reproduced copies of typewritten or printed documents if the copies are manually signed and satisfy this section.

AB150, s. 4537 Section 4537. 180.0120 (4) of the statutes is amended to read:

AB150,1538,11 180.0120 (4) The secretary of state department may waive any of the requirements of subs. (1) to (3) if it appears from the face of the document that the document's failure to satisfy the requirement is immaterial.

AB150, s. 4538 Section 4538. 180.0121 (1) (a) (intro.) of the statutes is amended to read:

AB150,1538,14 180.0121 (1) (a) (intro.) The secretary of state department shall prescribe and furnish on request forms for all of the following documents:

AB150, s. 4539 Section 4539. 180.0121 (1) (b) of the statutes is amended to read:

AB150,1538,18 180.0121 (1) (b) The forms prescribed by the secretary of state department under par. (a) 1., 2. and 3. shall require disclosure of only the information required under ss. 180.1503, 180.1520, 180.1622 and 180.1921, respectively.

AB150, s. 4540 Section 4540. 180.0121 (2) of the statutes is amended to read:

AB150,1538,22 180.0121 (2) The secretary of state department may prescribe and furnish on request forms for other documents required or permitted to be filed by this chapter, but use of these forms is not mandatory.

AB150, s. 4541 Section 4541. 180.0122 (1) (intro.) of the statutes is amended to read:

AB150,1539,3 180.0122 (1) (intro.) The secretary of state department shall collect the following fees when the documents described in this subsection are delivered to him or her for filing or, under pars. (e) and (f), the telephone applications are made: