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It sets rules for initial and additional capital contributions, profit and loss allocations, annual distributions, and restrictions on demands for return of capital. 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Distributions are determined by the members and made annually or more frequently, including liquidation rules and qualified income offset for negative capital accounts.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},283157,1790910675,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":15,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":47},137454149569,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","LIMITED LIABILITY COMPANY OPERATING AGREEMENT   (COMPANY NAME) , LLC  \nA Member-Managed Limited Liability Company  \nNEW JERSEY LLC OPERATING AGREEMENT  \nTHIS OPERATING AGREEMENT is made and entered into effective  \n  (Month Day, Year) , by and among:    \n(Member Full Name) ,   (Member Full Name) , and   (Member Full Name) (collectively referred to in this agreement as the \"Members\") .  \nSECTION 1  \nTHE LIMITED LIABILITY COMPANY  \n1.1 Formation. Effective   (Month Day, Year) , the Members forma limited liability company under the name   (Company Name) , L. L.C   (the \"Company\") on the terms and conditions in this Operating Agreement (the \"Agreement\") and pursuant to Chapter 2C Revised Uniform Limited Liability Company Act (State Law) of the State of New Jersey (the \"Act\") . The Members agree to file with the appropriate agency within the State of New Jersey charged with processing and maintaining such records all documentation required for the formation of the Company. The rights and obligations of the parties are as provided in the Act except as otherwise expressly provided in this Agreement.  \n1.2 Name. The business of the Company will be conducted under the name   (Company Name) , L. L.C. , or such other name upon which the Members may unanimously may agree.  \n1.3 Purpose. The purpose of the Company is to engage in any lawful act or activity for which a Limited Liability Company may be formed within the State of New Jersey.  \n1.4 Office. The Company will maintain its principal business office within the State of New Jersey at the following address:   (Address, City, State Zip) .  \n1.5 Registered Agent   (Full Name) is the Company's initial registered agent in the State of New Jersey, and the registered office is   (Address, City, State Zip) .  \n1.6 Term. The term of the Company commences on   (Month Day, Year) and shall continue perpetually unless sooner terminated as provided in this Agreement.  \n1.7 Names and Addresses of Members. The Members' names and addresses are attached as Schedule 1 to this Agreement.  \n1.8 Admission of Additional Members. Except as otherwise expressly provided in this Agreement, no additional members may be admitted to the Company through issuance by the company of a new interest in the Company without the prior unanimous written consent of the Members.  \nSECTION 2  \nCAPITAL CONTRIBUTIONS  \n2.1 Initial Contributions. The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.  \n2.2 Additional Contributions. No Member shall be obligated to make any additional contribution to the Company's capital without the prior unanimous written consent of the Members.  \n2.3 No Interest on Capital Contributions. Members are not entitled to interest or other compensation for or on account of their capital contributions to the Company except to the extent, if any, expressly provided in this Agreement.  \nSECTION 3  \nALLOCATION OF PROFITS AND LOSSES; DISTRIBUTIONS  \n3.1 Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company asset forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.  \n3.2 Distributions. The Members shall determine and distribute available funds annually or at more frequent intervals as they see fit. Available funds, as referred to herein, shall mean the net cash of the Company available after appropriate provision for expenses and liabilities, as determined by the Managers. Distributions in liquidation of the Company or in liquidation of a Member's interest shall be made in accordance with the positive capital account balances pursuant to U.S. Department of the Treasury Regulation 1.704. 1(b)(2)(ii)(b)(2) . To the extent a Member shall have a negative capital account balance, there shall be","cbCaipPwitQA0kki","https://ap.wps.com/l/cbCaipPwitQA0kki","pdf",77642,13,"English","# SECTION 1\n## THE LIMITED LIABILITY COMPANY\n# SECTION 2\n## CAPITAL CONTRIBUTIONS\n# SECTION 3\n## ALLOCATION OF PROFITS AND LOSSES; DISTRIBUTIONS\n# SECTION 4\n## INDEMNIFICATION\n# SECTION 5\n## POWERS AND DUTIES OF MANAGERS","[{\"question\":\"What does the agreement cover in Section 1 for a New Jersey LLC?\",\"answer\":\"Section 1 covers formation effective dates, the company name, business purpose, principal office, registered agent, term, and admission of additional members.\"},{\"question\":\"How are capital contributions and additional contributions handled?\",\"answer\":\"Initial capital contributions are listed in Schedule 2, and no member is required to add capital without prior unanimous written consent.\"},{\"question\":\"How are profits, losses, and distributions allocated under the agreement?\",\"answer\":\"Net profits and losses are allocated annually based on each member’s relative capital interest as reflected in Schedule 2. Distributions are determined by the members and made annually or more frequently, including liquidation rules and qualified income offset for negative capital accounts.\"}]","New Jersey LLC Operating Agreement - A Member-Managed Limited Liability Company | PDF",1789590878]