The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
33-2614 - Engagement and compensation of professional
33-2614. Engagement and compensation of professional
A. With court approval, a receiver may engage an attorney, accountant, appraiser, auctioneer, broker or other professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court:
1. The identity and qualifications of the professional.
2. The scope and nature of the proposed engagement.
3. Any potential conflict of interest.
4. The proposed compensation.
B. A person is not disqualified from engagement under this section solely because of the person's engagement by, representation of, or other relationship with the receiver, a creditor or a party. This chapter does not prevent the receiver from serving in the receivership as an attorney, accountant, auctioneer or broker when authorized by law.
C. A receiver or professional engaged under subsection A of this section shall file with the court an itemized statement of the time spent, work performed and billing rate of each person that performed the work and an itemized list of expenses. To the extent the receivership has sufficient assets, the receiver shall pay the amount approved by the court.