@Dudester17, yeahhh unfortunately it doesn't work that way ;_; Learned it from a past experience.
What would happen is that the banished weapon will still receive limit breaks despite not being maxed out, just with decreased overall stats from not receiving the bonuses from the unreached levels. However, you can use it to your advantage if you don't want your weapon to evolve but you've already picked up its corresponding passive item for evo. Just banish the weapon before it's maxed out, preventing it from evolving, and it will still receive limit breaks. :D