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This information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific advice, it's recommended to consult a licensed attorney or CPA. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is a document for LLC members outlining management procedures, financial operations, and ownership percentages (membership interests). Unlike LLC Formation Documents, it doesn't need to be submitted to the State and is meant to be kept internally. The agreement details member identities, ownership stakes, management structure, and tax-related issues.