California Business and Professions Code

§ 11501

BPC § 11501 Effective Jan 1, 2008Div. 4 · Part 4 · Ch. 1

Statute text

(a)“Common interest development manager” means an individual who for compensation, or in expectation of compensation, provides or contracts to provide management or financial services, or represents himself or herself to act in the capacity of providing management or financial services to an association. Notwithstanding any other provision of law, an individual may not be required to obtain a real estate or broker’s license in order to perform the services of a common interest development manager to an association.

(b)“Common interest development manager” also means any of the following:

(1)An individual who is a partner in a partnership, a shareholder or officer in a corporation, or who, in any other business entity acts in a capacity to advise, supervise, and direct the activity of a registrant or provisional registrant, or who acts as a principal on behalf of a company that provides the services of a common interest development manager.

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Legislative history

Amended by Stats. 2007, Ch. 236, Sec. 3. Effective January 1, 2008.