Existing law governs the management and operation of common interest developments and defines a “managing agent” as a person who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development.

This bill would add Civil Code Section 5382 to require a managing agent whose management agreement has been terminated to produce client property and client records within thirty (30) days from either the effective date the management agreement was terminated or the date the managing agent received a written request by a common interest development association, except as specified. The bill would define “client property” and “client records” for purposes of those provisions.