New Jersey LLC operating agreements document the conditions, terms, contributions, and benefits of each company member (sole or multi-member), manager, and owner/partner. In addition to the hierarchy, company policies and rules are also defined.
New Jersey LLC operating agreements document the conditions, terms, contributions, and benefits of each company member (sole or multi-member), manager, and owner/partner. In addition to the hierarchy, company policies and rules are also defined.
No, currently, New Jersey has not passed any laws requiring LLCs to have operating agreements in order to conduct business. (NJ Rev Stat § 42:2C-12 (2023))
“Operating agreement” means the written contract or verbal agreement between business owners, managers (or officers), and members that define an LLC as well as their benefits, powers, and obligations;
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