N.D. Cent. Code § 32-10.1-06: Disqualification from appointment as receiver - Disclosure of interest

1.The court may not appoint a person as receiver unless the person submits a statement to the court under penalty of perjury that the person is not disqualified.

2.Except as provided under 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 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 under section 41-09-02.

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.