183.0603 Effect of dissociation.
(1) If a person is dissociated as a member, all of the following apply:
(a) The person's right to participate as a member in the management and conduct of the limited liability company's activities and affairs terminates.
(b) The person's duties and obligations under s. 183.0409 as a member end with regard to matters arising and events occurring after the person's dissociation.
(c) Subject to s. 183.0504 and subch. X, any transferable interest owned by the person in the person's capacity as a member immediately before dissociation is owned by the person solely as a transferee.
(2) A person's dissociation as a member of a limited liability company does not of itself discharge the person from any debt, obligation, or other liability to the limited liability company or the other members which the person incurred while a member.
History: 2021 a. 258.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 183 - Uniform limited liability company law.
183.0105 - Operating agreement; scope, function, and limitations.
183.01075 - Required information.
183.0108 - Nature, purpose, and duration of limited liability company.
183.0111 - Supplemental principles of law.
183.0113 - Reservation of name.
183.0114 - Registration of name.
183.0115 - Registered agent and registered office.
183.0116 - Change of registered agent or registered office by limited liability company.
183.0117 - Resignation of registered agent.
183.0118 - Change of name or address by registered agent.
183.0119 - Service of process, notice, or demand.
183.0120 - Delivery of record.
183.0122 - Filing fees; certified copies.
183.0201 - Formation of limited liability company; articles of organization.
183.0202 - Amendment or restatement of articles of organization.
183.0203 - Signing of records to be delivered for filing to the department.
183.0204 - Signing and filing pursuant to judicial order.
183.0205 - Liability for inaccurate information in filed record.
183.0206 - Filing requirements.
183.0207 - Effective date and time.
183.0208 - Withdrawal of filed record before effectiveness.
183.0209 - Correcting filed record.
183.0210 - Duty of department to file; review of refusal to file; delivery of record by department.
183.0211 - Certificate of status.
183.0212 - Annual report for department.
183.0301 - No agency power of member as member.
183.0302 - Statement of authority.
183.0303 - Statement of denial.
183.0304 - Liability of members and managers.
183.0402 - Form of contribution.
183.0403 - Liability for contributions.
183.0404 - Sharing of and right to distributions before dissolution.
183.0405 - Limitations on distributions.
183.0406 - Liability for improper distributions.
183.0407 - Management of limited liability company.
183.0408 - Reimbursement; indemnification; advancement; and insurance.
183.0409 - Standards of conduct for members and managers.
183.0410 - Rights to information of member, manager, and person dissociated as member.
183.0501 - Nature of transferable interest.
183.0502 - Transfer of transferable interest.
183.0504 - Power of legal representative of deceased member.
183.0601 - Power to dissociate as member; wrongful dissociation.
183.0602 - Events causing dissociation.
183.0603 - Effect of dissociation.
183.0701 - Events causing dissolution.
183.0703 - Rescinding dissolution.
183.0704 - Known claims against dissolved limited liability company.
183.0705 - Other claims against dissolved limited liability company.
183.0707 - Disposition of assets in winding up.
183.0708 - Administrative dissolution.
183.0710 - Appeal from denial of reinstatement.
183.0801 - Direct action by member.
183.0805 - Special litigation committee.
183.0806 - Proceeds and expenses.
183.0902 - Registration to do business in this state.
183.0903 - Foreign registration statement.
183.0904 - Amendment or cancellation of foreign registration statement.
183.0905 - Activities not constituting doing business.
183.0906 - Noncomplying name of foreign limited liability company.
183.0909 - Transfer of registration.
183.09101 - Grounds for termination.
183.09102 - Procedure for and effect of termination.
183.09103 - Appeal from termination.
183.0911 - Withdrawal of registration of registered foreign limited liability company.
183.0912 - Action by attorney general.
183.1002 - Relationship of this subchapter to other laws.
183.1005 - Reference to external facts.
183.1023 - Approval of merger; amendment; abandonment.
183.1024 - Filings required for merger; effective date.
183.1031 - Interest exchange authorized.
183.1032 - Plan of interest exchange.
183.1033 - Approval of interest exchange; amendment; abandonment.
183.1034 - Filings required for interest exchange; effective date.
183.1035 - Effect of interest exchange.
183.1041 - Conversion authorized.
183.1042 - Plan of conversion.
183.1043 - Approval of conversion; amendment; abandonment.
183.1044 - Filings required for conversion; effective date.
183.1045 - Effect of conversion.
183.1051 - Domestication authorized.
183.1052 - Plan of domestication.
183.1053 - Approval of domestication; amendment; abandonment.
183.1054 - Filings required for domestication; effective date.
183.1055 - Effect of domestication.
183.1061 - Restrictions on approval of mergers, interest exchanges, conversions, and domestications.
183.1101 - Uniformity of application and construction.
183.1102 - Relation to Electronic Signatures in Global and National Commerce Act.