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The provided information is for educational purposes only and does not constitute legal, tax, or financial advice. For personalized guidance, it is recommended to consult with a licensed attorney or CPA. The content is copyright protected and may not be redistributed without consent. An Operating Agreement is a key document for LLC members, outlining the financial and operational management of the LLC. Unlike LLC Formation Documents, it is not required to be submitted to the State and is kept as an internal record. The Operating Agreement details member identities, their ownership percentages (membership interest), and management procedures for the LLC.