Conflicts of Interest

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2017 Legislation - AB 690 - Management Conflicts of Interest

Requires a common interest development manager or a common interest development management firm to disclose specified information before entering into a management agreement. Requires a disclosure on whether the manager receives a certain referral fee for distributing required documents. Requires a specified annual budget report to contain specified information relating to charges for requesting copies of certain documents. Requires a manager or firm to facilitate the delivery of requested documents.

§5350 - Conflict of Interest

  1. Notwithstanding any other law, and regardless of whether an association is incorporated or unincorporated, the provisions of Sections 7233 and 7234 of the Corporations Code shall apply to any contract or other transaction authorized, approved, or ratified by the board or a committee of the board.
  2. A director or member of a committee shall not vote on any of the following matters:
    1. Discipline of the director or committee member.

§7233-Conflicts of Interest; Disclosure; Common Directorships; Just and Reasonable Contracts

(a) No contract or other transaction between a corporation and one or more of its directors, or between a corporation and any domestic or foreign corporation, firm or association in which one or more of its directors has a material financial interest, is either void or voidable because such director or directors or such other corporation, business corporation, firm or association are parties or because such director or directors are present at the meeting of the board or a committee thereof which authorizes, approves or ratifies the contract or transaction, if:

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