Wisconsin Statutes (Last Updated: January 10, 2017) |
Chapter 179. Uniform Limited Partnership Act |
SubChapter I. GENERAL PROVISIONS |
Section 179.01. Definitions.
Latest version.
- In this chapter:(1) “Certificate of limited partnership" means the certificate under s. 179.11 , as amended under s. 179.12 or restated under s. 179.185 .(2) “Contribution" means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his or her capacity as a partner.(2m) “Department" means the department of financial institutions.(3) “Event of withdrawal of a general partner" means an event that causes a person to cease to be a general partner under s. 179.32 .(4) “Foreign limited partnership" means a partnership formed under the laws of any state other than this state and having as partners one or more general partners and one or more limited partners.(5) “General partner" means a person who has been admitted to a limited partnership as a general partner under the partnership agreement and named in the certificate of limited partnership as a general partner.(6) “Limited partner" means a person who has been admitted to a limited partnership as a limited partner under the partnership agreement.(7) “Limited partnership" and “domestic limited partnership" mean a partnership formed by 2 or more persons under this chapter and having one or more general partners and one or more limited partners.(8) “Partner" means a limited or general partner, and includes a personal representative or trustee to the extent authorized by the governing instrument or court order.(9) “Partnership agreement" means any valid agreement of the partners as to the affairs of a limited partnership and the conduct of its business.(10) “Partnership interest" means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.