The word has historically been used along the borderland as a derogatory term to mean lower class Mexican migrants, and in the rest of Latin America to mean an acculturating Indian or peasant. Despite, or because of, its long history of denigrating semantics, the term Cholo was turned on its head and used as a symbol of pride in the context of the ethnic power movements of the 1960s.
Principals have different roles depending on the nature of an individual business, but the universal responsibility of a commercial business principal is significant influence. Some principals are also the founder, owner and CEO. Others own a large portion of company equity and sign off on major decisions.
On a joint account with multiple owners, the person whose name and SSN/TIN is listed first is the primary owner. On a custodial account (UGMA/UTMA), the minor is always the primary owner. On a guardianship/conservatorship account, the ward is always the primary owner. On a trust account, the trust is always the primary owner. On an estate account, the estate is always the primary owner. Note: If you're still not sure who is the primary owner, look at your monthly statement. The first name listed on the account is typically the primary owner.