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The provided information is for educational purposes only and does not constitute 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 among LLC members outlining management, financial operations, and ownership percentages (membership interest). Unlike LLC Formation Documents, it is not submitted to the state but should be retained with business records. The agreement details member roles, management structure, and tax procedures for the LLC.