2021 Arizona Revised Statutes
Title 33 - Property
§ 33-2606 - Disqualification from appointment as a receiver; exceptions; nomination
33-2606. Disqualification from appointment as a receiver; exceptions; nomination
A. The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified.
B. Except as otherwise provided in subsection C of this section, a person is disqualified from appointment as receiver if the person:
1. Is an affiliate of a party.
2. Has an interest materially adverse to an interest of a party.
3. Has a material financial interest in the outcome of the action, other than compensation the court may allow the receiver.
4. Has a debtor-creditor relationship with a party.
5. Holds an equity interest in a party, other than a noncontrolling interest in a publicly traded company.
C. A person is not disqualified from appointment as receiver solely because the person:
1. Was appointed receiver or is owed compensation in an unrelated matter involving a party or was engaged by a party in a matter unrelated to the receivership.
2. Is an individual obligated to a party on a debt that is not in default and was incurred primarily for personal, family or household purposes.
3. Maintains with a party a deposit account as defined in section 47-9102.
D. A person seeking the appointment of a receiver may nominate a person to serve as receiver.
