Updated November 23, 2021
A New Jersey single-member LLC operating agreement is generally drawn up between the LLC itself and the only owner of the company. This document most usually will cover the rights belonging to the member, their obligations and duties, and the management structure as dictated by the SMLLC. When a single member utilizes the agreement, inasmuch as the personal and business practices are separated, it will assist greatly with liability protection. This document will also make a difference to the single-member who may be approaching lenders or any businesses while entering into business agreements and/or transactions.