Section 4158 - Managing Agent
(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.
Old Civil Code Section 1363.1(b)
(b) As used in this section, a "managing agent" is a person or entity who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development. A "managing agent" does not include either of the following:
(1) A full-time employee of the association.
(2) Any regulated financial institution operating within the normal course of its regulated business practice.
Changes
4158.1363.1
(a) (b) As used in this section, a A "managing agent" is a person or entity who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development. A
(b) A "managing agent" does not include eitherany of the following:
(1) A full-time employee of the association. (2) Any 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.