I. The management company must give a written statement to the board, zero to 90 days before entering a contract, containing the following [CC §1363.1]:
2. Names and business address of the owners or partners of the management company. If the management company is a corporation, it must include the names and business addresses of the directors and officers plus shareholders who hold more than 10% of the shares.
3. A statement containing the names of any of the above persons who hold relevant California licenses in areas such as architecture, construction, engineering, real estate or accounting, that licenses they hold and the dates the licenses are valid.
4. A statement containing the names of any of the above persons who hold relevant professional certifications or designations in areas such as architecture, construction, engineering, real estate or accounting, which certifications or designations are held, what that certification or designation is and who issued it and the dates the certifications or designations are valid.
5. On an annual basis, an association manager must disclose to each association board, (1) whether or not the manager is "certified," as defined in the statute, (2) the name, address, and
telephone number of the professional association that certified the manager, the date the manager was certified, and the status of the certification, (3) the location of the manager's primary office, (4) whether the fidelity insurance of the manager or his or her employer covers the operating and reserve funds of the community association before entering or renewing a contract with an association. This does not preclude a manager from disclosing the information required by CC 1363.1. [B&P Code §11504]
6. It is an unfair business practice for a manager or management company to hold oneself as "certified" without meeting the requirements of B&P Code § 11504, to state or advertise that the person is certified, registered, or licensed by a governmental agency to perform the functions of a certified common interest development manager, to state or advertise a registration or license number, unless the license or registration is specified by a statute, regulation, or ordinance, or to fail to disclose or misrepresent any item to be disclosed under B&P Code § 11504. [B&P Code § 11505]
7. The management company must deposit all funds belonging to the association either into: (1) an escrow account with a bank, savings association or credit union, or (2) an account under the control of the association, or (3) a trust account with a bank, savings association or
credit union located in California, insured by the federal government and held there until disbursed according to the association's
instructions. [CC §1363.2(a)]
8. Upon the association's written request, the management company must deposit all funds it accepts or receives on behalf of the association into an interest-bearing account in a bank, savings association or credit union located in California. The account must show the management company as trustee for the association, the fund must be insured by the federal government and must be kept separate from the management company's own funds and from other funds the management company holds in trust. [CC §1363.2(b)]
9. The management company must keep a separate record of all funds received and disbursed from any account described in CC §1363.2, including any interest earned on the funds. [CC §1363.2(c)]
10. The management company may not commingle association funds, unless they were commingled on or before February 26, 1990 and subject to other limited exceptions, including mandatory bonding and disclosure to the association. [CC §1363.2(d)]