(1) After giving notice, a receiver may employ attorneys, accountants, appraisers, brokers, real estate licensees, auctioneers or other professionals to represent or assist the receiver in carrying out the receiver’s duties.

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(2) The notice given by the receiver before employing a professional must disclose:

(a) The identity and qualifications of the professional;

(b) The scope and nature of the proposed engagement;

(c) Any potential conflict of interest; and

(d) The proposed compensation.

(3) If an objection is filed after the receiver provides notice of the professional’s employment, the professional may continue to perform the professional’s duties while the objection is pending.

(4)(a) A receiver may not employ a professional who holds or represents an interest adverse to the estate, except by order of the court.

(b) A professional is not disqualified for employment under this subsection solely because of the professional’s employment by, representation of or other relationship with a creditor or other interested person, if the relationship is disclosed in the notice of the professional’s employment.

(5) Nothing in this section precludes the receiver from acting as attorney or accountant if doing so is in the best interests of the estate.

(6) After giving notice, the receiver may make payments to professionals for services rendered to the receiver. The notice must include an itemized billing statement indicating the time spent, billing rates of all persons who performed work to be compensated and a detailed list of expenses. [2017 c.358 § 31]