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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice; consultation with a licensed professional is recommended for specific needs. The text discusses the Operating Agreement for an LLC, which is an internal document that outlines management and operational procedures. Unlike LLC Formation Documents, it does not need to be filed with the state. The Operating Agreement details the members of the LLC, their ownership percentages (membership interests), and the management structure. It serves as a vital reference for maintaining clarity in the LLC's operational framework. Redistribution or modification of the material is prohibited without written consent.