Nevada § 32.265 Disqualification from appointment as receiver; disclosure of interest

Nevada Statutes

§ 32.265 — Disqualification from appointment as receiver; disclosure of interest

Nevada·Title 3 REMEDIES; SPECIAL ACTIONS AND PROCEEDINGS·Ch. 32 Receivers· Administration of Receiverships

1. 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. 2. Except as otherwise provided in 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 solely because the person:

(a)Was appointed receiver or is owed compe

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1. 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.
2. Except as otherwise provided in 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 solely 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 in paragraph (ff) of subsection 1 of NRS 104.9102 .
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.

Nevada § 32.265 (Disqualification from appointment as receiver; disclosure of interest) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.