2010 Wisconsin Code
Chapter 183. Limited liability companies.
183.0303 Limited liability company charged with knowledge of or notice to member or manager.

183.0303

183.0303 Limited liability company charged with knowledge of or notice to member or manager.

183.0303(1)

(1) Except as provided in sub. (2), notice to any member of any matter relating to the business of a limited liability company, and the knowledge of a member acting in the particular matter, acquired while a member or known by the person at the time of becoming a member, and the knowledge of any other member who reasonably could and should have communicated it to the acting member, operate as notice to or knowledge of the limited liability company.

183.0303(2)

(2) If management of the limited liability company is vested in one or more managers, all of the following apply:

183.0303(2)(a)

(a) Notice to any manager of any matter relating to the business of the limited liability company, and the knowledge of the manager acting in the particular matter, acquired while a manager or known by the person at the time of becoming a manager, and the knowledge of any other manager who reasonably could and should have communicated it to the acting manager, operate as notice to or knowledge of the limited liability company.

183.0303(2)(b)

(b) Notice to or knowledge of any member while the member is acting solely in the capacity of a member is not notice to or knowledge of the limited liability company.

183.0303 - ANNOT.

History: 1993 a. 112.