For purposes of this chapter, the following

definitions apply: (a) “Common interest development” means a residential development identified in

Section of the Civil Code. (b) “Association” has the same meaning as defined in

Section of the Civil Code. (c) “Financial services” means acts performed or offered to be performed, for compensation, for an association, including, but not limited to, the preparation of internal unaudited financial statements, internal accounting and bookkeeping functions, billing of assessments, and related services. (d) “Management services” means acts performed or offered to be performed in an advisory capacity for an association including, but not limited to, the following:

(1) Administering or supervising the collection, reporting, and archiving of the financial or common area assets of an association or common interest development, at the direction of the association’s board of directors.

(2) Implementing resolutions and directives of the board of directors of the association elected to oversee the operation of a common interest development.

(3) Implementing provisions of governing documents, as defined in

Section of the Civil Code, that govern the operation of the common interest development.

(4) Administering association contracts, including insurance contracts, within the scope of the association’s duties or with other common interest development managers, vendors, contractors, and other third-party providers of goods and services to an association or common interest development. (e) “Professional association for common interest development managers” means an organization that meets all of the following:

(1) Has at least members or certificants who are common interest development managers in California.

(2) Has been in existence for at least five years.

(3) Operates pursuant to

Section 501(

c) of the Internal Revenue Code.

(4) Certifies that a common interest development manager has met the criteria set forth in

Section without requiring membership in the association.

(5) Requires adherence to a code of professional ethics and standards of practice for certified common interest development managers.