Who has control in the company? Board vs Shareholders?
An investor proposed an operating agreement where he had the majority of Class A shares. He added myself and him as Board Of Managers, him being Chairman of the board. This investor said decisions can't be made without my approval but because he has the majority of Class A shares, I thought it was completely irrelevant what my position was in the company.
Don't the majority shareholders make the decision for the company? Do Class A share holders have the say or do the board of managers?