A common interest development manager or common interest development management firm shall disclose, in writing, any potential conflict of interest when presenting a bid for service to an association’s board of directors. “Conflict of interest,” for purposes of this section, means:
(a) Any referral fee or other monetary benefit that could be derived from a business or company providing products or services to the association.
(b) Any ownership interests or profit-sharing arrangements with service providers recommended to, or used by, the association.