This template is an operating agreement for a New Jersey limited liability company (LLC) that is member-managed with multiple members. This template includes practical guidance, drafting notes, alternate clauses, and optional clauses. LLCs in New Jersey may be member-managed or manager-managed. This operating agreement provides for management by its members and is appropriate for LLCs that call for a more detailed contract among the members. The clauses regarding capital contributions, management, and distributions will help promote the orderly operation of the LLC. You should carefully draft and review the operating agreement with the client to ensure the terms are consistent with the client's understanding and intent. You should also consider consulting with the LLC's tax and/or accounting service providers to confirm the tax and accounting provisions are appropriate for the LLC. For additional guidance on LLCs, see Formation and Qualification (NJ LLC) andLimited Liability Companies: Operating Agreement and Initial Filing Requirements - 50 State Survey.