Updated on November 8th, 2021
The New Jersey single-member LLC operating agreement is used by the owner of a limited liability company to lay the groundwork for how the company will be managed internally. The agreement details company policies regarding bookkeeping, tax filing, and other critical financial matters.
The agreement serves to protect the company owner from liability should the company face litigation, as it separates the owner’s personal assets from the company’s assets. Therefore, even though the operating agreement is not a legal requirement, it proves an invaluable asset to company owners.