1. With court approval, a receiver may engage an attorney, accountant, appraiser, auctioneer, broker, or other professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court: a. The identity and qualifications of the professional; b. The scope and nature of the proposed engagement; c. Any potential conflict of interest; and d. The proposed compensation. 2. A person is not disqualified from engagement under this section because of the person's engagement by, representation of, or other relationship with the receiver, a creditor, or a party. This chapter does not prevent the receiver from serving in the receivership as an attorney, accountant, auctioneer, or broker when authorized by law. 3. A receiver or professional engaged under subsection 1 shall file with the court an itemized statement of the time spent, work performed, and billing rate of each person that performed the work and an itemized list of expenses. The receiver shall pay the amount approved by the court.
32-10.1-15. Use or transfer of receivership property not in ordinary course of business. 1. As used in this section, "good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing. 2. With court approval, a receiver may use receivership property other than in the ordinary course of business. 3. With court approval, a receiver may transfer receivership property other than in the ordinary course of business by sale, lease, license, exchange, or other disposition. Unless the agreement of sale provides otherwise, a sale under this section is free of a lien of the person that obtained appointment of the receiver, any subordinate lien, and any right of redemption but is subject to a senior lien. 4. A lien on receivership property which is extinguished by a transfer under subsection 3 attaches to the proceeds of the transfer with the same validity, perfection, and priority the lien had on the property immediately before the transfer, even if the proceeds are not sufficient to satisfy all obligations secured by the lien. 5. A transfer under subsection 3 may occur by means other than a public auction sale. A creditor holding a valid lien on the property to be transferred may purchase the property and offset against the purchase price part or all of the allowed amount secured by the lien, if the creditor tenders funds sufficient to satisfy in full the reasonable expenses of transfer and the obligation secured by any senior lien extinguished by the transfer. 6. A reversal or modification of an order approving a transfer under subsection 3 does not affect the validity of the transfer to a person that acquired the property in good faith or revive against the person any lien extinguished by the transfer, whether the person knew before the transfer of the request for reversal or modification, unless the court stayed the order before the transfer.