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This content is for educational purposes and does not serve as legal, tax, or financial advice. For specific professional guidance, consult a licensed attorney or CPA. The Operating Agreement is an internal document for LLC members that outlines management and operational procedures. Unlike LLC Formation Documents, it does not need to be filed with the state. The Agreement identifies the members and their ownership percentages (membership interests) while detailing management structure, roles, and decision-making processes within the LLC. Note that the information is copyright protected and cannot be redistributed or modified without permission.