North Dakota § 32-10.1-06 Disqualification from appointment as receiver - Disclosure of interest

North Dakota Statutes

§ 32-10.1-06 — Disqualification from appointment as receiver - Disclosure of interest

North Dakota § 32-10.1-06

Title 32Judicial Remedies

Ch. 32-10.1Uniform Commercial Real Estate Receivership Act

This text of North Dakota § 32-10.1-06 (Disqualification from appointment as receiver - Disclosure of interest) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 32-10.1-06 (2026).

Text

1.The court may not appoint a person as receiver unless the person submits a statement to the court under penalty of perjury that the person is not disqualified.

2.Except as provided under 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 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 because the person:

a.Was appointed receiver or is owed compensation in an unrela

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1. The court may not appoint a person as receiver unless the person submits a statement
to the court under penalty of perjury that the person is not disqualified.
2. Except as provided under 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
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 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 under section 41-09-02.
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.