(a) A “managing agent” is a person who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development.
(b) A “managing agent” does not include any of the following:
(1) A regulated financial institution operating within the normal course of its regulated business practice.
(2) An attorney at law acting within the scope of the attorney’s license.
- Business & Professions Code Section 11501. “CID Manager” Defined.
- Business & Professions Code Section 11502.5. CID Manager Education Requirements.
- Business & Professions Code Section 11502. CID Manager Certification.
- Business & Professions Code Section 11504. Manager Disclosures.
- Civil Code Section 5385. Employee not “Managing Agent”.
- Civil Code Section 5375. Prospective Managing Agent Disclosure.