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The provided information is for educational purposes and does not constitute legal, tax, or financial advice. For specific advice, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed or modified without consent. An Operating Agreement is a document for LLC members that outlines financial and operational management. Unlike LLC Formation Documents, it does not need to be filed with the state, as it is internal and should be kept with business records. The agreement specifies member identities, ownership percentages (membership interests), and management procedures of the LLC.