Wisconsin · Through 2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)

Wis. Stat. § 178.0703: Liability of person dissociated as partner to other persons.

(1) Except as otherwise provided in sub. (2) or s. 178.0308 (1), a person dissociated as a partner is not liable for a partnership obligation incurred after dissociation.
(2) A person that is dissociated as a partner is liable to a party on a transaction entered into by the partnership after the dissociation only if all of the following apply:
(a) The person would have been liable on the transaction had the person not been dissociated.
(b) At the time the other party enters into the transaction, less than 2 years has passed since the dissociation.
(c) At the time the other party enters into the transaction, the other party does not have knowledge or notice of the dissociation and reasonably believes that the person is a partner.
(3) By agreement with a creditor of a partnership and the partnership, a person dissociated as a partner may be released from liability for a debt, obligation, or other liability of the partnership.
(4) A person dissociated as a partner is released from liability for a debt, obligation, or other liability of the partnership if the partnership’s creditor, with knowledge or notice of the person’s dissociation but without the person’s consent, agrees to a material alteration in the nature or time of payment of the debt, obligation, or other liability.

Where this section sits in the code

Chs. 178-226, Partnerships and Corporations; Transportation; Utilities; Banks; Savings Associations
Chapter 178 Uniform Partnership Law
SUBCHAPTER VII PERSON’S DISSOCIATION ASA PARTNER WHEN BUSINESSNOT WOUND UP

(1) Except as otherwise provided in sub. (2) or s. 178.0308 (1), a person dissociated as a partner is not liable for a partnership obligation incurred after dissociation.

(2) A person that is dissociated as a partner is liable to a party on a transaction entered into by the partnership after the dissociation only if all of the following apply:

(a) The person would have been liable on the transaction had the person not been dissociated.

(b) At the time the other party enters into the transaction, less than 2 years has passed since the dissociation.

(c) At the time the other party enters into the transaction, the other party does not have knowledge or notice of the dissociation and reasonably believes that the person is a partner.

(3) By agreement with a creditor of a partnership and the partnership, a person dissociated as a partner may be released from liability for a debt, obligation, or other liability of the partnership.

(4) A person dissociated as a partner is released from liability for a debt, obligation, or other liability of the partnership if the partnership’s creditor, with knowledge or notice of the person’s dissociation but without the person’s consent, agrees to a material alteration in the nature or time of payment of the debt, obligation, or other liability.

Collected 2026-09-05T12:01:01Z. Source file · JSON

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