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The information presented is for educational purposes only and does not constitute legal, tax, or financial advice; consultation with a licensed attorney or CPA is recommended for specific needs. The content is copyright protected and cannot be redistributed without permission. An Operating Agreement is an internal document for LLC members, outlining the management of the LLC both financially and operationally. It is not required to be filed with the State like LLC Formation Documents. The Operating Agreement specifies the members and their ownership percentages, and details the governance and operational processes of the LLC.