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The following information is provided for educational purposes only and in no way constituteslegal, tax, or financial advice.For legal, tax, or financial advice specific to your business needs, we encourage you toconsult with a licensed attorney and/or CPA in your state.The following information is copyright protected.No part of this lesson may be redistributed, copied, modified or adapted without priorwritten consent of the author.An Operating Agreement is an agreement between the members of the LLC that sets forth howthe LLC will be managed both financially and operationally.Unlike your LLC Formation Documents, the Operating Agreement does not need to be mailed in tothe State.It is an "internal document", meaning you'll just need to keep a copy with your businessrecords.The purpose of an Operating Agreement is to spell out who the members are and what percentageof the LLC they own (also known as their membership interest).It also defines how the LLC is manag

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