{"data":{"id":"us-il/765-ilcs-1090-7","jurisdiction":"us-il","citation":"765 ILCS 1090/7","heading":"Disqualification from appointment as receiver; disclosure of interest.","body":"(a) Any person, whether or not a resident of this State, may serve as a receiver unless the person is disqualified under this Act.\n(b) 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.\n(c) Except as otherwise provided in subsection (d), a person is disqualified from appointment as receiver if the person:\n(1) is an affiliate of a party or the judge presiding over the receivership;\n(2) has an interest materially adverse to an interest of a party;\n(3) has a material financial interest in the outcome of the action, other than compensation the court may allow the receiver;\n(4) has a debtor-creditor relationship with a party;\n(5) holds an equity interest in a party, other than a noncontrolling interest in a publicly traded company;\n(6) is a sheriff of any county; or\n(7) is otherwise prohibited from acting as an agent of the court under the laws of this State.\n(d) A person is not disqualified from appointment as receiver solely because the person:\n(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;\n(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\n(3) maintains with a party a deposit account as defined in Section 9-102(a)(29) of the Uniform Commercial Code.\n(e) A person seeking appointment of a receiver may nominate a person to serve as receiver, but the court is not bound by the nomination.","path":["CHAPTER 765 PROPERTY","Illinois Receivership Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4605\u0026ChapterID=62\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:46Z","sha256":"97669b68bbdae15a7638a264c4b361e9c31aa0202ce0576bb7f920b6f0120c1c","source_id":"us-il","stale":false,"prev":"us-il/765-ilcs-1090-6","next":"us-il/765-ilcs-1090-8"},"notice":"GroundRules: Original legal text. Not legal advice."}