Adding members to a Limited Liability Company (LLC) in Athennian is very simple and easy to do. If you would like to issue units to members, follow the instructions listed in this help article. If you would like to record ownership by percentage, follow the steps listed below:
Creating the Percentage Unit Class
- Navigate to the profile of the entity for which you would like to create the percentage unit class;
- Navigate to the Governance > Unit Classes section;
- Select New, and then select New Unit Class from the dropdown list;
- In the new window that opens up in the 1. Settings tab, ensure that the Created Date is correct, and type Percentage in the Unit Class Name;
- Add P* as the certificate code, and then in the Authorized Amount field, enter 100 as the capped amount of percentage units to be issued;
- Check off Has voting units and enter the amount of voting rights per unit;
- If necessary, add any restrictions attached to the percentage ownership in the 2. Restrictions tab, and add any instructions for the certificates in the 3. Certificates tab;
- Click Create in the bottom righthand corner of the window.
Issuing Percentage Ownership to Members
- Navigate to the Securities > Unit Classes section of the entity to issue percentages to the stakeholders;
- Select + New from the Transactions tab, select Issuance from the list of transactions, and then follow the instructions described in this help article to issue the percentage to the stakeholder - Note: you will notice that, if you try to issue more than 100 shares, Athennian will give you a warning message that the number of units you are issuing Exceeds available amount;
- Once you will have issued the percentage to the stakeholder, you will also be able to see the membership information in the General > Overview tab.
Screenshot No. 1: Percentage Class
Screenshot No. 2: Unitholdings