{"data":{"id":"us-tn/tenn.-code-ann.-29-40-107","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 29-40-107","heading":"Disqualification from appointment as receiver - Disclosure of interest","body":"(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), 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 § 47-9-102(a) . (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. Added by 2018 Tenn. Acts, ch. 731, s 1, eff. 7/1/2018.\n(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.\n(b) Except as otherwise provided in subsection (c), 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.\n(1) Is an affiliate of a party;\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; or\n(5) Holds an equity interest in a party, other than a noncontrolling interest in a publicly-traded company.\n(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 § 47-9-102(a) .\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 § 47-9-102(a) .\n(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.","path":["TN Code","Title 29","Chapter 40"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"d47248c09717b4f6ded9f3a884b53e16c785de2ce9cd25e4accc423311697270","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-29-40-106","next":"us-tn/tenn.-code-ann.-29-40-108"},"notice":"GroundRules: Original legal text. Not legal advice."}