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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For specific guidance, consulting a licensed attorney or CPA is recommended. The text emphasizes that the content is copyright protected and cannot be redistributed without consent. An Operating Agreement is an internal document for LLC members that outlines the management structure, membership interests, and operational procedures. Unlike LLC Formation Documents, it does not need to be submitted to the state but should be retained with business records. It specifies member identities, ownership percentages, and management details of the LLC.