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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 may not be distributed without the author's consent. An Operating Agreement, an internal document for an LLC, outlines management and operational procedures. It does not need to be filed with the state and should be kept with business records. The agreement details the members of the LLC, their ownership percentages (membership interest), and management structure.