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The provided information is for educational use only and does not constitute legal, tax, or financial advice. For such specific guidance, consulting a licensed attorney or CPA is recommended. The content is copyright protected and cannot be redistributed without consent. An Operating Agreement is a document among LLC members detailing the management of the LLC, both operationally and financially. It is not required to be submitted to the state, making it an internal document that should be retained with business records. The Agreement outlines member identities, ownership percentages (membership interests), and management processes of the LLC.