Abstract: Provides relative to the receivership of water or wastewater companies.

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Proposed law defines "wastewater company" and "water company".

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Proposed law provides for when a court may appoint a receiver for a water company or wastewater company to collect the assets and carry on the business of the water company or wastewater company.

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Proposed law provides that the court may place the water company or wastewater company in receivership upon finding any of the following:

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(1) The water company or wastewater company has been abandoned by the operator, or service to its customers has ceased, and no provisions have been made for the continued operation by a qualified operator, or for providing customers with services required to serve the users of the systems.

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(2) The water company or wastewater company has failed or refused to comply with administrative orders issued by the La. Dept. of Health or the La. Dept. of Environmental Quality.

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(3) After an audit by the commission, the commission determines the water company or wastewater company is in financial distress.

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(4) Other circumstances as may be identified by rules adopted by the commission pursuant to the commission's Rules of Practice and Procedure under which a receivership may be needed.

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Proposed law provides for when a receiver shall execute a bond.

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Proposed law provides that the receiver shall carry out the orders specified and directed by the court until discharged.

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Proposed law provides for when the court may dissolve the receivership.