California AB739 amends the Civil Code to redefine managing agent fees and enhance financial transparency in common interest developments.

California AB739 amends Section 5200 of the Civil Code to redefine managing agent fees, including base management fees and reimbursable expenses. It also mandates that the managing agent's statement of fees include detailed breakdowns and time periods covered. The bill incorporates amendments from Senate Bill 1238, contingent on both bills being enacted by January 1, 2027. Additionally, it amends Section 5500 of the Civil Code to require the board to review monthly financial statements and annual fee statements from the managing agent.

California AB739 amends the Civil Code to redefine managing agent fees and enhance financial transparency in common interest developments.

California AB739 amends Section 5200 of the Civil Code to redefine managing agent fees, including base management fees and reimbursable expenses. It also mandates that the managing agent's statement of fees include detailed breakdowns and time periods covered. The bill incorporates amendments from Senate Bill 1238, contingent on both bills being enacted by January 1, 2027. Additionally, it amends Section 5500 of the Civil Code to require the board to review monthly financial statements and annual fee statements from the managing agent.