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The information provided is for educational purposes only and does not constitute legal, tax, or financial advice. It recommends consulting a licensed attorney or CPA for specific business needs. The content is copyright protected and cannot be redistributed without permission. An Operating Agreement is a crucial internal document for an LLC, detailing the management structure and financial operations. Unlike LLC Formation Documents, it is not submitted to the state but should be retained with business records. The Agreement outlines the members, their membership interests, and the management procedures for the LLC.