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  • Wisconsin Statement of Cancellation Liability Liability Partnership

Wisconsin Statement of Cancellation Liability Liability Partnership

Category:
Wisconsin Secretary of State - Limited Liability Partnership
State:
Wisconsin
Control #:
WI-SKU-1097
Format:
PDF
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Description

Statement of Cancellation Liability Liability Partnership The Wisconsin Statement of Cancellation Liability Partnership (SCALP) is a contractual agreement between two or more parties in Wisconsin to limit or eliminate their individual liability for certain debts and obligations. It is a type of limited liability partnership (LLP) that offers the parties involved protection from the liability associated with certain business activities and debts. The SCALP is regulated by the Wisconsin Department of Financial Institutions (DFI). There are two types of Scalps: the general SCALP, and the limited SCALP. The general SCALP is the more common type and is used when all the partners are jointly and severally liable for debts and obligations. The limited SCALP is used when one or more of the partners are only liable for specific debts or obligations. Both types of Scalps must be registered with the DFI in order to be valid and enforceable.

The Wisconsin Statement of Cancellation Liability Partnership (SCALP) is a contractual agreement between two or more parties in Wisconsin to limit or eliminate their individual liability for certain debts and obligations. It is a type of limited liability partnership (LLP) that offers the parties involved protection from the liability associated with certain business activities and debts. The SCALP is regulated by the Wisconsin Department of Financial Institutions (DFI). There are two types of Scalps: the general SCALP, and the limited SCALP. The general SCALP is the more common type and is used when all the partners are jointly and severally liable for debts and obligations. The limited SCALP is used when one or more of the partners are only liable for specific debts or obligations. Both types of Scalps must be registered with the DFI in order to be valid and enforceable.

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