§ 52-625 — Disqualification from appointment as receiver; disclosure of interest.

(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 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; or (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; or (3) Maintains with a party a deposit account, as defined in subdivision (29) of subsection (a) of section 42a-9-102 . (d) A person seeking appointment of a receiver may nominate a person to serve as receiver, but the court is not bound by the nomination.

Legislative History

(P.A. 21-80, S. 7; P.A. 22-26, S. 64.) History: P.A. 21-80 effective July 1, 2022; P.A. 22-26 changed effective date of P.A. 21-80, S. 7, from July 1, 2022, to July 1, 2023, effective May 10, 2022.