Utah Code 78B-21-107. Disqualification from appointment as receiver — Disclosure of interest
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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.
Terms Used In Utah Code 78B-21-107
- Affiliate: means :(1)(a) with respect to an individual:(1)(a)(i) a companion of the individual;(1)(a)(ii) a lineal ancestor or descendant, whether by blood or adoption, of:(1)(a)(ii)(A) the individual; or(1)(a)(ii)(B) a companion of the individual;(1)(a)(iii) a companion of an ancestor or descendant described in Subsection (1)(a)(ii);(1)(a)(iv) a sibling, aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew of the individual, whether related by the whole or the half blood or adoption, or a companion of a sibling, aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece, or grandnephew of the individual; or(1)(a)(v) any other individual occupying the residence of the individual; and(1)(b) with respect to a person other than an individual:(1)(b)(i) another person that directly or indirectly controls, is controlled by, or is under common control with the person;(1)(b)(ii) an officer, director, manager, member, partner, employee, or trustee or other fiduciary of the person; or(1)(b)(iii) a companion of, or an individual occupying the residence of, an individual described in Subsection (1)(b)(i) or (ii). See Utah Code 78B-21-102
- Court: means a court of this state with jurisdiction over the action under Title 78A, Judiciary and Judicial Administration. See Utah Code 78B-21-102
- Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Utah Code 78B-21-102
- Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Utah Code 78B-21-102
- Receivership: means a proceeding in which a receiver is appointed. See Utah Code 78B-21-102
(2) Except as otherwise provided in Subsection (3), a person is disqualified from appointment as receiver if the person:(2)(a) is an affiliate of a party;(2)(b) has an interest materially adverse to an interest of a party;(2)(c) has a material financial interest in the outcome of the action, other than the compensation the court may allow the receiver;(2)(d) has a debtor-creditor relationship with a party; or(2)(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:(3)(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;(3)(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(3)(c) maintains with a party a deposit account as defined in Section 70A-9a-102.(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.