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.
33-2606 - 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.