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The provided information is for educational purposes and not legal, tax, or financial advice. Consultation with a licensed attorney or CPA is recommended for specific business needs. The text discusses the Operating Agreement, an internal document for LLC members that outlines management structure and ownership percentages (membership interests). Unlike LLC Formation Documents, the Operating Agreement does not need to be filed with the state but should be kept with business records. Its purpose is to clarify member roles, ownership stakes, and management processes within the LLC. The information is also copyright protected and cannot be redistributed without consent.