CA Civ Code Section 4158

(a)

A “managing agent” is a person who, for compensation or in expectation of compensation, exercises control over the assets of a common interest development.

(b)

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.