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Getting a Community Association Manager (CAM) license can be confusing. Below are the steps you need to take in order to obtain a CAM license.
The Division has received numerous inquiries with regard to the entity licensure requirements of common interest communities that directly employ W-2 licensed managers. The Division currently does not require the entity licensure of the common interest community that directly employs a licensed manager(s). Additionally, any common interest community that is not required to obtain an entity license will not need to entitle a qualified active designated manager, nor be required to satisfy the insurance requirements of the Community Association Manager Practice Act.
Although it is not a requirement to obtain an entity license for any common interest community that directly employs W-2 employees, it may voluntarily apply for an entity license. If the entity desires to obtain a license, the common interest community would need to complete the entity license application, pay the fee, entitle a qualified active designated manager, and provide proof of satisfying the license law insurance requirements. The Division will accept a common interest community’s Directors & Officers (D&O) policy in lieu of an Errors & Omissions (E&O) insurance policy, so long as the policy meets the statutory coverage limits and any employed licensed manager is named as an additional insured.