(1) A manager—
(a) must act honestly and in good faith in the performance of the manager’s functions; and
(b) must exercise due care and diligence in the performance of the manager’s functions; and
(c) must not make improper use of the manager’s position to gain, directly or indirectly, an advantage personally or for any other person.
(2) A manager—
(a) holds all money held on behalf of an owners corporation on trust for the owners corporation; and
(b) must account separately for the money held for each owners corporation by the manager.