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The provided information is for educational purposes and does not constitute legal, tax, or financial advice. For specific guidance, 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 outlining financial and operational management. Unlike LLC Formation Documents, it is not filed with the State but should be kept with business records. The agreement details the members, their ownership percentages (membership interest), and the management structure of the LLC.