Why Should my LLC Have an Operating Agreement?

If you’ve created an LLC, you pretty much already have one. New Jersey adopted the Revised Uniform Liability Company Act, which sets rules for how an LLC can operate in New Jersey.  Violating these rules can lead to a piercing of the liability shield that protects your assets, and is the reason you created your limited liability company in the first place.
By drafting your own operating agreement, you get to set the rules by which your business operates, and can even amend away from what the state’s rules are.  Not just that, in the case of a liability company with multiple members, you can govern how disputes among the members can be resolved, therefore avoiding future litigation.
It’s very important if you’re going to start an LLC that you have an experienced attorney draft an operating agreement for you.

Lawyers at the law firm of Mattleman, Weinroth & Miller, P.C., are experienced business attorneys working throughout the state of New Jersey. Contact the office if you have legal questions about your business and set up a free initial consultation.