New Jersey LLC Operating Agreement
Your New Jersey LLC operating agreement is a legal document that establishes rules for how your LLC will handle procedures like voting, allocating profits and losses, management, and even—should it ever come to this—dissolution.
An operating agreement is an internal document, but that doesn’t make it any less important than documents filed with the state. In fact, adopting a strong operating agreement is essential. That’s why we at Northwest offer a range of free, attorney-drafted operating agreement templates that are specific to New Jersey LLCs.
Is an operating agreement required in New Jersey?
No, New Jersey statutes do not state that LLCs are required to have an operating agreement. However, you’ll need an operating agreement for several important tasks, like opening a bank account for your LLC and maintaining limited liability status.
Do I have to file my operating agreement in New Jersey?
No. Your operating agreement is an internal document, which means you’ll keep it on file with your own LLC files.
Does a single-member LLC need an operating agreement?
Actually, yes. Even though it may seem bizarre to adopt an agreement with yourself, even single-member LLCs need an operating agreement for important tasks, like opening a business bank account and—perhaps most importantly—maintaining limited liability.
*This is informational commentary, not advice. This information is intended strictly for informational purposes and does not constitute legal advice or a substitute for legal counsel. This information is not intended to create, nor does your receipt, viewing, or use of it constitute, an attorney-client relationship. More information is available in our Terms of Service.