33-2606. Disqualification from appointment as a receiver; exceptions; nomination 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. 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. 3. 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. 3. Maintains with a party a deposit account as defined in section 47-9102. D. A person seeking the appointment of a receiver may nominate a person to serve as receiver.
Arizona Legal Code