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This text emphasizes that the provided information is for educational purposes and does not constitute legal, tax, or financial advice. Individuals are encouraged to seek advice from licensed professionals for specific business needs. The content is copyright protected, prohibiting any redistribution without consent. An Operating Agreement is a crucial internal document for an LLC, detailing member roles, ownership percentages (membership interests), and management structure. Unlike LLC Formation Documents, it does not need to be submitted to the State but should be kept with business records. It is essential for outlining financial and operational management of the LLC.