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The Florida Statutes

The 2023 Florida Statutes (including Special Session C)

Title XL
Chapter 714
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F.S. 714.07
714.07 Disqualification from appointment as receiver; disclosure of interest.
(1) 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.
(2) Except as otherwise provided in 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 solely 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 in s. 679.1021.
(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.
History.s. 1, ch. 2020-106.