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Appointment of Principals

Nonto
Nonto
  • Updated

Learn how to appoint a principal to an entity in Athennian!

Appointment of Principals

Appointing principals is as easy as following the steps listed below:

  • Navigate to the entity for which you would like to appoint a principal.

  • Go to the Principals section of that entity and select + New at the top right corner, and the Principal modal will appear

Note: When adding a Principal, you can select the status of the record. The Status will default to Confirmed, but you can change it at any time. Statuses can be used to keep track of Pending (incoming or outgoing) or Inactive Principals. Statuses are also used in document assembly coding to control which Principals to include in language related to appointments and resignations.

1. Details

  • Select + Add Profile and select either Entity or Person
  • Search for either the Person or Entity Record you wish to add and click Confirm
    • If none exists yet, click + Add person / + Add entity to add one first, enter the relevant information and click Create
  • Add any Notes if applicable

2. Addresses

  • Click on + Add Address to select an address for the Principal
    • If none exists in the application, click on + New, enter the address information and click on Create
  • Once the address is selected, click on Apply

3. Roles

  • Click on + Add Role to select what type of role the Principal has
    • When you add the Role, this allows you to add entities as General Partners to Limited Partnerships, add Corporations as Managers of LLCs or other Entity Principal scenarios. 
  • Select the mandatory Role* from the dropdown (Director, General Partner, Incorporator, Manager, Member, Officer, Other, Partner, Signatory, Trustee or Ultimate Beneficial Owner)
  • Select a specific Title from the dropdown
  • Enter a Custom Title if applicable
    • Add more Custom Title by clicking on the Manage Director Custom Title button
  • Add any necessary Effective Date (and End Date for a historical appointment), optional
  • To confirm, click the Create button
  • Repeat the above steps to add additional roles for the same Principal

Note: If you add a Principal to multiple kinds of Roles, they will be listed in distinct records. For example, if you add someone as a Director, Chief Executive Officer, and Secretary, that will create three unique entries (one as Director and two as Officers).

4. Documents 

  • Click on + Add Documents
  • Select documents to Link to Affiliation

If satisfied with the data inputted, click on the blue Create button

Once you have created your Principal record, you will see it listed in the table. You can access Edit or Delete functions by clicking on the Principal record. 

5. Generating Supporting Documents

  • Generate Principal Registers by clicking on the Generate button at the top of the screen.
  • Generate documents to complete the appointment from a task

Video Instructions: