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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For specific advice tailored to business needs, consulting a licensed attorney or CPA is recommended. This content is copyright protected and cannot be copied or modified without permission. An Operating Agreement is an internal document among LLC members outlining management and financial operations. It is not submitted to the state but should be retained with business records. The agreement specifies member identities, ownership percentages (membership interests), management procedures, and other operational guidelines.