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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice; individuals should consult a licensed professional for guidance. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement outlines the management structure of an LLC, detailing member identities, ownership percentages (membership interests), and management procedures. Unlike LLC Formation Documents, it is not filed with the State but should be kept with business records. The Agreement clarifies operational and financial management aspects of the LLC.