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Common Interest Development Act

Chapter 1. General Provisions

Article 2. Definitions

§ 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.