Notwithstanding any other provision of this chapter, a private water company that is a participating municipal water provider shall not do any of the following until after obtaining the approval of the corporation commission:

1. 1. Incur any debt of any kind in joining a district or in acting as a member of a district.
2. 2. Create any financial or operating obligation in joining a district or in acting as part of a district.
3. 3. Provide water or wastewater services as part of its participation in a district to any person or entity that is located outside the private water company's service territory allowed under its certificate of convenience and necessity.
4. 4. Recover any costs associated with the formation of a district or any costs associated with participating as a member of a district.
5. 5. Impose any charges or fees to any of its customers or change any rate, in connection with forming, participating in or dissolving a district.
6. 6. Transfer any assets to a district.
7. 7. Allow a district to use the private water company's billing system to bill for district fees, rates or charges.