In the state of New Jersey an operating agreement between managing members of your entity is not legally required, though we highly recommend you take a moment to consider the benefits of drafting this document. This agreement will allow you standardize a set of rules and regulations regarding business conduct within your organization. From day-to-day operations, to more important business affairs, this document will surely be of use to those in the process of starting a new business. Take the time to read over the agreement, along with legal advice, to see if this document can benefit your LLC. We have provided a free template on this webpage, available in both MS Word and PDF formats.