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  515.525.  Replacement of receiver, when. — Except as provided in sections 515.500 to 515.665 or otherwise by statute, any person, whether or not a resident of this state, may serve as a receiver.  A person may not be appointed as a receiver, and shall be replaced as receiver if already appointed, if it should appear to the court that the person:

  (1)  Has been found guilty of a felony or other crime involving moral turpitude or is controlled by a person who has been convicted of a felony or other crime involving moral turpitude;

  (2)  Is a party to the action, or is a parent, grandparent, grandchild, sibling, partner, director, officer, agent, attorney, employee, secured or unsecured creditor or lienor of, or holder of any equity interest in, or controls or is controlled by, the debtor, or who is the agent, affiliate, or attorney of any disqualified person;

  (3)  Has an interest materially adverse to the interest of persons to be affected by the receivership generally; or

  (4)  Is a sheriff of any county.


(L. 2016 H.B. 1765 merged with S.B. 578)

---- end of effective   28 Aug 2016 ----

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