Illinois Code § 765 ILCS 1090/7

(a) Any person, whether or not a resident of this State, may serve as a receiver unless the person is disqualified under this Act.
 
(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. 
 
(c) Except as otherwise provided in subsection (d), a person is disqualified from appointment as receiver if the person:
 
 
(1) is an affiliate of a party or the judge presiding 
 
over the receivership;
 
 
(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;
 
 
(5) holds an equity interest in a party, other than a 
 
noncontrolling interest in a publicly traded company;
 
 
(6) is a sheriff of any county; or
 
 
(7) is otherwise prohibited from acting as an agent 
 
of the court under the laws of this State.
 
(d) 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 Section 9-102(a)(29) of the Uniform Commercial Code.
 
(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.

over the receivership;
of a party;
of the action, other than compensation the court may allow the receiver;
noncontrolling interest in a publicly traded company;
of the court under the laws of this State.
an unrelated matter involving a party or was engaged by a party in a matter unrelated to the receivership;
that is not in default and was incurred primarily for personal, family, or household purposes; or
defined in Section 9-102(a)(29) of the Uniform Commercial Code.

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