A New Jersey limited liability company operating agreement securely sets the exact powers of company members through each one’s complying signature. In addition to member interests, the managerial policies and tax status of the New Jersey LLC will be represented in the content of this paperwork. This means that each New Jersey LLC member will show their signature approval of a clear blueprint of the company and their responsibilities. It will be up to the New Jersey members to diligently research their business and commitments while negotiating this paperwork before they show agreement by signing their company contract.
Is it Required in New Jersey?
No. New Jersey does not have any laws or statutes that insist that a limited liability company function with an operating agreement.
Single-Member LLC operating agreement – The contract that an LLC with only one (1) member requires to define the membership held.
Multi-Member LLC operating agreement – Used by New Jersey limited liability companies with two (2) or more members.
“‘Operating agreement’ means the agreement, whether or not referred to as an operating agreement and whether oral, in a record, implied, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in subsection a. of section 11 of this act. The term includes the agreement as amended or restated.”