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The provided information is for educational purposes and does not constitute legal, tax, or financial advice. For specific advice, consulting a licensed attorney or CPA is recommended. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is a document for LLC members outlining management of the business both financially and operationally. It is not required to be submitted to the State, as it is an internal document to be retained with business records. The agreement identifies the members, their ownership percentages (membership interest), and details regarding the LLC's management.