2012 Wisconsin Statutes & Annotations
179. Uniform limited partnership act.
179.74 Distribution of assets.
179.74 Distribution of assets. Except as provided in s. 179.105 (3), on the winding up of a limited partnership, the assets shall be distributed in the following order:
(1) To creditors, including partners who are creditors, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners under s. 179.51 or 179.54.
(2) Except as provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions under s. 179.51 or 179.54.
(3) Except as provided in the partnership agreement, to partners in the following order:
(a) For the return of their contributions in the proportions in which the partners share in distributions.
(b) For their partnership interests in the proportions in which the partners share in distributions.
History: 1983 a. 173; 1989 a. 232.
Disclaimer: These codes may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
