Glossary of Terms: M

1. a person who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development
2. 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.

(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

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

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:

• Accrual basis
• Cash basis

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