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The information provided is for educational purposes only and does not serve as legal, tax, or financial advice. For specific needs, consult with a licensed attorney or CPA. The text emphasizes that the Operating Agreement is an internal document for LLC members, outlining management and ownership percentages (membership interest). Unlike LLC Formation Documents, it does not need to be submitted to the state but should be kept with business records. The purpose of the Operating Agreement is to define the members and their ownership stakes, as well as the management structure of the LLC. Redistribution or modification of this content requires prior written consent from the author.