Legal Question in Business Law in New Jersey

State: NJ

I have a simple operating agreement for my L.L.C. and would like to know if at a later date, I could submit a more detailed draft (if necessary)? And would this new draft void the other draft, once all members agree to sign and if there is a clause in the agreement saying that "it will void all other signed agreements made prior to the signing of this new agreement"?

Thank you


Asked on 7/14/12, 5:27 pm

2 Answers from Attorneys
John Corbett Corbett Law Firm LLC

An LLC operating agreement can be changed at any time according to its terms. If the agreement does not provide for amendment and changes, the NJ statutes do. However, you should keep in mind that it is an agreement after all. Any other members of the LLC must agree to the changes. On the whole, it is much more workable to have a good operating agreement any time the LLC has more than one member. That tend to save arguments later.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 7/14/12, 6:22 pm
Tina Nielsen Amodeo, Esq. Tina N Amodeo

I agree with everything John said except that it is possible that some members may not have theright to vote on certain matters if the existing LLC articles + regulations state that. Tina N. Amodeo, Esq.

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Answered on 7/14/12, 7:17 pm


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