§ 4158 – Definition, 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.

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