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

Connecticut Statutes

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

Connecticut § 52-625

Title 52Civil Actions

Ch. 930Uniform Commercial Real Estate Receivership Act

This text of Connecticut § 52-625 (Disqualification from appointment as receiver; disclosure of interest.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 52-625 (2026).

Text

(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

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(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.