Section 78B-21-107 - Disqualification from appointment as receiver - Disclosure of interest(1) 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.(2) Except as otherwise provided in Subsection (3), a person is disqualified from appointment as receiver if the person:(a) is an affiliate of a party;(b) has an interest materially adverse to an interest of a party;(c) has a material financial interest in the outcome of the action, other than the compensation the court may allow the receiver;(d) has a debtor-creditor relationship with a party; or(e) holds an equity interest in a party, other than a noncontrolling interest in a publicly traded company.(3) A person is not disqualified from appointment as receiver solely because the person: (a) 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;(b) 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; or(c) maintains with a party a deposit account as defined in Section 70A-9a-102.(4) A person seeking appointment of a receiver may nominate a person to serve as receiver, but the court is not bound by the nomination.Added by Chapter 431, 2017 General Session ,§ 7, eff. 5/9/2017.