Term | Definition |
---|---|
managing agent |
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.) CA Civ Code § 4158 |
member |
an owner of a separate interest (Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.) CA Civ. Code § 4160 |
modified accrual or modified cash or hybrid accounting |
an accounting method that combines accrual basis accounting with cash basis accounting Modified accrual is allowed under the Davis-Stirling Act Civ. Code § 5200. Associations using modified accrual typically record assessments when due (accrual basis) but record expenses when paid (cash basis). The other accounting methods include: https://www.investopedia.com/terms/a/accrualaccounting.asp https://www.investopedia.com/terms/c/cashbasis.asp https://www.investopedia.com/terms/m/modified-accrual-accounting.asp CA Civ. Code § 5200 |