West Virginia § 55-21-7 Disqualification from appointment as receiver; disclosure of interest

West Virginia Statutes

§ 55-21-7 — Disqualification from appointment as receiver; disclosure of interest

West Virginia § 55-21-7

Ch. 55ACTIONS, SUITS AND ARBITRATION; JUDICIAL SALE

Art. 21UNIFORM COMMERCIAL REAL ESTATE RECEIVERSHIP ACT

This text of West Virginia § 55-21-7 (Disqualification from appointment as receiver; disclosure of interest) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 55-21-7 (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 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; 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 appoin

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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 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; 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 §46-9-102(a)(29) of this code.

(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.