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The text provides information on an Operating Agreement for LLCs, which is an internal agreement among members detailing how the LLC will be managed financially and operationally. Unlike formation documents, the Operating Agreement does not need to be submitted to the state and should be kept with business records. It outlines member ownership percentages, management structure, and other key operational details. It is advised to seek legal, tax, or financial advice for specific business needs. The information is copyright protected.
