Common interest developments: managing agent: production of client property and client records upon termination of management agreement.

Existing law, the Davis-Stirling Common Interest Development Act, governs the management and operation of common interest developments and defines a "managing agent" as a person who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development. This bill would require a managing agent whose management agreement has been terminated to produce client property and client records within a specified period of time pursuant to a written request by a common interest development association in a format that the association can reasonably use, except as specified. The bill would define "client property" and "client records" for purposes of those provisions.