(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; or (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; or (3) Maintains with a party d 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; or (3) Maintains with a party a deposit account as defined in § 6A-9-102(a)(29). (d) A person seeking appointment of a receiver may nominate a person to serve as receiver, but the court is not bound by the nomination. History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
Rhode Island Legal Code