178.0120(2)(a)(a) Any fee under sub.
(1) shall be established by the department by rule.
178.0120(2)(b)
(b) The department may collect an expedited service fee, established by rule, for processing in an expeditious manner a record required or permitted to be filed with the department under this chapter, except that the fee to expedite processing to within one hour of filing shall be $500 and the fee to expedite processing to within 4 hours of filing shall be $250. Notwithstanding s.
178.0110, the $500 or $250 expedited processing fee, if applicable, applies to a partnership regardless of the date the partnership was formed.
178.0120(2)(c)
(c) The department may, by rule, specify a larger fee for filing records in paper format.
178.0120(3)
(3) A certified copy of a record filed by the department is conclusive evidence that the original record is on file with the department.
178.0120(4)
(4) A person may not sign a document with intent that it be delivered to the department for filing, or deliver a document or cause a document to be delivered to the department for filing, if the person knows that the document is false in any material respect at the time of its delivery. Whoever violates this subsection is guilty of a Class I felony.
178.0120 History
History: 2015 a. 295;
2017 a. 59.
178.0121
178.0121
Confirmation of status. 178.0121(1)(1)
Any person may obtain from the department, upon request, a certificate of status for a limited liability partnership or a foreign limited liability partnership.
178.0121(2)
(2) A certificate of status shall include all of the following information:
178.0121(2)(a)
(a) The limited liability partnership's name or the foreign limited liability partnership's name and fictitious name, if any, used in this state.
178.0121(2)(b)1.
1. The limited liability partnership is a limited liability partnership under the laws of this state, or the foreign limited liability partnership is authorized to transact business in this state.
178.0121(2)(b)2.
2. The limited liability partnership or the foreign limited liability partnership has, during its most recently completed report year, filed with the department the annual report required by s.
178.0913.
178.0121(2)(b)3.
3. The limited liability partnership has not filed a cancellation of its statement of qualification and is not the subject of a proceeding under s.
178.09032 to revoke its statement of qualification.
178.0121(2)(b)4.
4. The foreign limited liability partnership has not filed a cancellation of its registration statement and is not the subject of a proceeding under s.
178.10102 to revoke its registration statement.
178.0121(2)(c)
(c) The limited liability partnership's effective date of its statement of qualification or the foreign limited liability partnership's effective date of its registration statement.
178.0121(3)
(3) The certificate of status may include other facts of record in the department that are requested.
178.0121(4)
(4) Subject to any qualification stated in a certificate of status issued by the department, the certificate is conclusive evidence that the limited liability partnership or the foreign limited liability partnership is in existence or is authorized to transact business in this state.
178.0121(5)
(5) Upon request by telephone or otherwise, the department shall confirm, by telephone, any of the information required in a certificate of status under sub.
(2) and may confirm any other information permitted under sub.
(3).
178.0121 History
History: 2015 a. 295.
NATURE OF PARTNERSHIP
178.0201
178.0201
Partnership as entity. 178.0201(1)(1)
A partnership is an entity distinct from its partners.
178.0201(2)
(2) A partnership is the same entity regardless of whether the partnership has a statement of qualification in effect under s.
178.0901.
178.0201 History
History: 2015 a. 295.
178.0202
178.0202
Formation of partnership. 178.0202(1)(1)
Except as otherwise provided in sub.
(2), the association of 2 or more persons to carry on, as co-owners, a business for profit forms a partnership, whether or not the persons intend to form a partnership.
178.0202(2)
(2) An association whose governing law is other than the law of this state is not a partnership under this chapter.
178.0202(3)
(3) In determining whether a partnership is formed, the following rules apply:
178.0202(3)(a)
(a) Joint tenancy, tenancy in common, tenancy by the entireties, joint property, common property, or part ownership does not by itself establish a partnership, even if the co-owners share profits made by the use of the property.
178.0202(3)(b)
(b) The sharing of gross returns does not by itself establish a partnership, even if the persons sharing them have a joint or common right or interest in property from which the returns are derived.
178.0202(3)(c)
(c) A person who receives a share of the profits of a business is presumed to be a partner in the business, unless the profits were received in payment of or for any of the following:
178.0202(3)(c)2.
2. Services as an independent contractor or wages or other compensation to an employee.
178.0202(3)(c)4.
4. An annuity or other retirement or health benefit to a deceased or retired partner or a beneficiary, representative, or designee of a deceased or retired partner.
178.0202(3)(c)5.
5. Interest or other charge on a loan, even if the amount of payment varies with the profits of the business, including a direct or indirect present or future ownership of the collateral, or rights to income, proceeds, or increase in value derived from the collateral.
178.0202(3)(c)6.
6. The sale of the goodwill of a business or other property by installments or otherwise.
178.0202 History
History: 2015 a. 295.
178.0203
178.0203
Partnership property. Property acquired by a partnership is property of the partnership and not of the partners individually.
178.0203 History
History: 2015 a. 295.
178.0204
178.0204
When property is partnership property. 178.0204(1)(1)
Property is partnership property if acquired in the name of any of the following:
178.0204(1)(b)
(b) One or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership.
178.0204(2)
(2) Property is acquired in the name of the partnership by a transfer to any of the following:
178.0204(2)(b)
(b) One or more partners in their capacity as partners in the partnership, if the name of the partnership is indicated in the instrument transferring title to the property.
178.0204(3)
(3) Property is presumed to be partnership property if purchased with partnership assets, even if not acquired in the name of the partnership or of one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership.
178.0204(4)
(4) Property acquired in the name of one or more of the partners, without an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership and without use of partnership assets, is presumed to be separate property, even if used for partnership purposes.
178.0204 History
History: 2015 a. 295.
RELATIONS OF PARTNERS TO PERSONS
DEALING WITH PARTNERSHIP
178.0301
178.0301
Partner agent of partnership. Subject to the effect of a statement of partnership authority under s.
178.0303, the following rules apply:
178.0301(1)
(1) Each partner is an agent of the partnership for the purpose of its business. An act of a partner, including the signing of an instrument in the partnership name, for apparently carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership, unless the partner did not have authority to act for the partnership in the particular matter and the person with which the partner was dealing knew or had notice that the partner lacked authority.
178.0301(2)
(2) An act of a partner which is not apparently for carrying on in the ordinary course the partnership's business or business of the kind carried on by the partnership binds the partnership only if the act was actually authorized by all the other partners.
178.0301 History
History: 2015 a. 295.
178.0302
178.0302
Transfer of partnership property. 178.0302(1)(1)
Partnership property may be transferred as follows:
178.0302(1)(a)
(a) Subject to the effect of a statement of partnership authority under s.
178.0303, partnership property held in the name of the partnership may be transferred by an instrument of transfer signed by a partner in the partnership name.
178.0302(1)(b)
(b) Partnership property held in the name of one or more partners with an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, but without an indication of the name of the partnership, may be transferred by an instrument of transfer signed by the persons in whose name the property is held.
178.0302(1)(c)
(c) Partnership property held in the name of one or more persons other than the partnership, without an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, may be transferred by an instrument of transfer signed by the persons in whose name the property is held.
178.0302(2)
(2) A partnership may recover partnership property from a transferee, as a result of the lack of authority under this subchapter to make the transfer, only if the partnership proves that signing of the instrument of initial transfer did not bind the partnership under s.
178.0301 and if any of the following is true:
178.0302(2)(a)
(a) As to a subsequent transferee who gave value for property transferred under sub.
(1) (a) or
(b), the partnership proves that the subsequent transferee knew or had been notified that the person who signed the instrument of initial transfer lacked authority to bind the partnership.
178.0302(2)(b)
(b) As to a transferee who gave value for property transferred under sub.
(1) (c), the partnership proves that the transferee knew or had been notified of all of the following:
178.0302(2)(b)2.
2. The person who signed the instrument of initial transfer lacked authority to bind the partnership.
178.0302(3)
(3) A partnership may not recover partnership property from a subsequent transferee, for lack of authority under this subchapter to make the transfer, if the partnership would not have been entitled to recover the property under sub.
(2) from any earlier transferee of the property.
178.0302(4)
(4) If a person holds all of the partners' interests in a partnership that is dissolved under subch.
VIII, all the partnership property vests in that person. The person may sign a record in the name of the partnership to evidence vesting of the property in that person and may file or record the record.
178.0302 History
History: 2015 a. 295.
178.0303
178.0303
Statement of partnership authority. 178.0303(1)(a)
(a) A partnership may deliver to the department for filing a statement of partnership authority.
178.0303(1)(b)
(b) The statement of authority must include all of the following:
178.0303(1)(b)2.
2. If the partnership is not a limited liability partnership, the street and mailing addresses of its principal office.
178.0303(1)(b)3.
3. If the partnership is a limited liability partnership, the street address of its registered office in this state and the name of its registered agent at that office.
178.0303(1)(c)
(c) With respect to any position that exists in or with respect to the partnership, the statement of authority may state the authority, or limitations on the authority, of all persons holding the position to do any of the following:
178.0303(1)(c)1.
1. Sign an instrument transferring real property held in the name of the partnership.
178.0303(1)(c)2.
2. Enter into other transactions on behalf of, or otherwise act for or bind, the partnership.
178.0303(1)(d)
(d) The statement of authority may state the authority, or limitations on the authority, of a specific person to do any of the following:
178.0303(1)(d)1.
1. Sign an instrument transferring real property held in the name of the partnership.
178.0303(1)(d)2.
2. Enter into other transactions on behalf of, or otherwise act for or bind, the partnership.
178.0303(2)
(2) To amend or cancel a statement of authority filed by the department, a partnership must deliver to the department for filing an amendment or cancellation stating all of the following:
178.0303(2)(b)
(b) If the partnership is not a limited liability partnership, the street and mailing addresses of the partnership's principal office.
178.0303(2)(c)
(c) If the partnership is a limited liability partnership, the street address of its registered office in this state and the name of its registered agent at that office.
178.0303(2)(d)
(d) The date the statement being affected became effective.
