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The information provided is for educational purposes only and does not serve as legal, tax, or financial advice. To address specific business needs, consulting a licensed attorney or CPA is recommended. This material is copyright protected and cannot be redistributed or modified without written consent. An Operating Agreement is an internal document for LLC members outlining management, financial, and operational procedures. Unlike LLC Formation Documents, it is not submitted to the state but should be kept with business records. The agreement details the members, their ownership percentages (membership interests), and management structures of the LLC.