NRS 32.265 Disqualification from appointment as receiver; disclosure of interest.

239 words·~1 min read·/nv/chapter-32-receivers/32-265

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 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.