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In this tutorial, the discussion centers on the differences between bylaws and operating agreements. Bylaws are specific to corporations, outlining the ownership structure and operational rules, created by the corporate board of directors. Most states require corporations to have bylaws, although these do not need to be filed with the state. In contrast, operating agreements apply to LLCs, detailing their operational guidelines, and are created by the LLC's members. Unlike bylaws, states typically do not mandate LLCs to have an operating agreement, but having one is strongly recommended. The video concludes with a note to stay tuned for future content.
