Learning management systems form an integral part of the learning environments of most universities and support a wide range of diverse activities and operations. However, learning management systems are often regulated by institutional policies that address the general use of Information Technology and Communication services rather than specific learning management system policies. Hence, we propose that learning management system environments are complex techno-social systems that require dedicated standalone policies to regulate their operation. This preliminary study examined a selection of learning management system policies from twenty universities in four countries to identify some of the elements that are considered necessary for inclusion in policy documents. Seventeen individual elements of learning management system policy documents were identified from a synthesis of the policies. These were classified into six policy categories: Accounts, Courses, Ownership, Support, Usage, and Protection. The study also identified three additional qualities of learning management system policy documents: standalone comprehensibility, platform-neutral statements, and contemporary relevance. The findings of this study will serve as a useful template for developing dedicated standalone policies for the governance of university learning management systems.