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MANAGER DISCLOSURE REQUIREMENTS
Bus. & Prof. §11504;
Civil Code §1363.1
Manager Certification
Disclosure. Association managers (see
definition) must annually disclose to the
board of directors of the association
the following information:
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Whether or not the manager has met the
requirements of Bus. & Prof. §11502 so he or she may be called a
"certified common
interest development manager"
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The name, address, and telephone number of the professional
association that certified the manager, the date
the manager was certified, and the status of the certification.
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The location of
the manager's primary office.
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Prior to entering into or renewing a contract with an association, the manager
must disclose whether the fidelity insurance
of the manager or the manager's employer covers the association's operating and
reserve funds
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Possession of an active real estate license, if applicable.
Management Agent
Disclosures. Before entering into a management agreement, a
prospective managing agent (other than a full-time employee of the association
or any regulated financial institution operating within the
normal course of its regulated business practice
Civil Code §1363.1(b))
must provide a board of directors with a written statement which contains all of
the following information:
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The names and business addresses of the owners or general
partners of the managing agent. If the managing agent is a
corporation, the written statement shall include the names and
business addresses of the directors and officers and shareholders
holding greater than 10 percent of the shares of the corporation.
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Whether or not any relevant licenses such as architectural
design, construction, engineering, real estate, or accounting have
been issued by this state and are currently held by the persons
specified above. If a license is currently held by any of
those persons, the statement shall contain the following
information:
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Whether or not any relevant professional certifications or
designations such as architectural design, construction, engineering,
real property management, or accounting are currently held by any of
the persons specified in paragraph (1), including, but not limited
to, a professional common interest development manager. If any
certification or designation is held, the statement shall include the
following information:
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The certification and the issuing entity.
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The dates the certification or designation is valid.
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The names in which the certification or designation is held.
Updated by ADAMS KESSLER 7/19/2008 | |
