Added by Stats. 2017, Ch. 127, Sec. 6. (AB 690) Effective January 1, 2018.
A common interest development manager or common interest development management firm shall disclose, in writing, any potential conflict of interest when presenting a bid for service to an association’s board of directors. “Conflict of interest,” for purposes of this section, means:
(a)Any referral fee or other monetary benefit that could be derived from a business or company providing products or services to the association.
(b)Any ownership interests or profit-sharing arrangements with service providers recommended to, or used by, the association.
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