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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed or modified without permission. An Operating Agreement outlines the management of an LLC, detailing member ownership percentages (membership interest), management structure, and operational procedures. Unlike LLC Formation Documents, it is an internal document not submitted to the State, and should be kept with business records.