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This text serves educational purposes and does not offer legal, tax, or financial advice; consultation with a licensed professional is recommended for specific needs. It addresses the Operating Agreement of an LLC, which is an internal document setting out management and operational guidelines. Unlike LLC Formation Documents, it doesn't require submission to the State and should be retained within business records. The Operating Agreement identifies LLC members and their ownership percentages (membership interest) while outlining management processes. The content is copyright protected and cannot be redistributed without consent.