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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. For specific guidance, it is recommended to consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed or modified without consent. An Operating Agreement is an internal document for LLC members, outlining management and operational procedures. Unlike LLC Formation Documents, it does not require submission to the State. The agreement details the members' identities, their ownership percentages (membership interests), and management structure of the LLC.