Connecticut General Statutes
Chapter 930 - Uniform Commercial Real Estate Receivership Act
Section 52-625. - (Note: This section is effective July 1, 2022.) Disqualification from appointment as receiver; disclosure of interest.

(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 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 a deposit account, as defined in subdivision (29) of subsection (a) of section 42a-9-102.
(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.
(P.A. 21-80, S. 7.)
History: P.A. 21-80 effective July 1, 2022.

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