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The provided information serves educational purposes only and does not constitute legal, tax, or financial advice. For specific needs, consulting a licensed attorney or CPA is recommended. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members outlining management structure, ownership percentages (membership interests), and operational guidelines. Unlike LLC Formation Documents, it does not need to be submitted to the state but should be retained with business records to ensure clarity in member roles and governance.