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The text explains that an Operating Agreement is a document between LLC members outlining how the business will be managed both financially and operationally. This agreement is not required to be filed with the state but should be kept with business records. It details member identities, ownership percentages, and management structure. The text emphasizes that the information provided is for educational purposes and copyright protected. Consultation with a licensed attorney or CPA is recommended for personalized legal, tax, or financial advice. The summary ends mid-sentence due to character limit.
