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.

Section 1363.1 - Managing Agent of Common Interest Development

(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.