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The provided information is for educational purposes only and does not serve as legal, tax, or financial advice. For specific advice, it's recommended to consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members that outlines management, financial operations, member ownership percentages, and the overall structure of the LLC. Unlike LLC Formation Documents, the Operating Agreement does not need to be submitted to the state but should be kept with business records.