714.07 Disqualification from appointment as receiver; disclosure of interest.
223 words·~1 min read·
/fl/title-xl/chapter-714/714-07·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 s. 679.1021 .
(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.