183.0410(2)(c)2.2. The company’s reasons for declining, if the company declines to provide any demanded information. 183.0410(2)(d)(d) Whenever this chapter or an operating agreement provides for a member to vote on or give or withhold consent to a matter, before the vote is cast or consent is given or withheld, the company shall, without demand, provide the member with all information that is known to the company and that is material to the member’s decision. 183.0410(3)(3) Subject to sub. (8), on 10 days’ demand made in a record received by a limited liability company, a person dissociated as a member may have access to the information to which the person was entitled while a member if all of the following apply: 183.0410(3)(a)(a) The information pertains to the period during which the person was a member. 183.0410(4)(4) A limited liability company shall respond to a demand made pursuant to sub. (3) in the manner provided in sub. (2) (c). 183.0410(5)(5) A limited liability company may charge a person that makes a demand under this section the reasonable costs of copying, limited to the costs of labor and material. 183.0410(6)(6) A member or person dissociated as a member may exercise the rights under this section through an agent or, in the case of an individual under legal disability, a legal representative. Any restriction or condition imposed by the operating agreement or under sub. (8) applies both to the agent or legal representative and to the member or person dissociated as a member. 183.0410(7)(7) Subject to s. 183.0504, the rights under this section do not extend to a person as transferee. 183.0410(8)(8) In addition to any restriction or condition stated in its operating agreement, a limited liability company, as a matter within the ordinary course of its activities and affairs, may impose reasonable restrictions and conditions on access to and use of information to be furnished under this section, including designating information confidential and imposing nondisclosure and safeguarding obligations on the recipient. In a dispute concerning the reasonableness of a restriction under this subsection, the company has the burden of proving reasonableness. 183.0410 HistoryHistory: 2021 a. 258. TRANSFERABLE INTERESTS AND
RIGHTS OF TRANSFEREES
AND CREDITORS
183.0501183.0501 Nature of transferable interest. A transferable interest is personal property. 183.0501 HistoryHistory: 2021 a. 258. 183.0502183.0502 Transfer of transferable interest. 183.0502(1)(1) Subject to s. 183.0503 (6), all of the following apply to a transfer, in whole or in part, of a transferable interest: 183.0502(1)(b)(b) It does not by itself cause a member’s dissociation or a dissolution and winding up of the limited liability company’s activities and affairs. 183.0502(1)(c)1.1. Participate in the management or conduct of the company’s activities and affairs. 183.0502(1)(c)2.2. Except as otherwise provided in sub. (3) and s. 183.0410 (3), have access to records or other information concerning the company’s activities and affairs. 183.0502(2)(2) A transferee has the right to receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled. 183.0502(3)(3) In a dissolution and winding up of a limited liability company, a transferee is entitled to an account of the company’s transactions only from the date of dissolution. 183.0502(4)(4) A transferable interest may be evidenced by a certificate of the interest issued by a limited liability company in a record, and, subject to this section, the interest represented by the certificate may be transferred by a transfer of the certificate. 183.0502(5)(5) A limited liability company need not give effect to a transferee’s rights under this section until the company knows or has notice of the transfer. 183.0502(6)(6) A transfer of a transferable interest in violation of a restriction on transfer contained in the operating agreement is ineffective if the intended transferee knows or has notice of the restriction at the time of the intended transfer. 183.0502(7)(7) Except as otherwise provided in s. 183.0602 (5) (b), if a member transfers a transferable interest and the transferee does not become a member with respect to the transferred interest, the transferor retains the rights of a member other than the interest in distributions transferred and retains all the duties and obligations of a member.