For purposes of section 5(c)(2) of this chapter, a distressed utility is not furnishing or maintaining adequate, efficient, safe, and reasonable service and facilities if the commission finds one

1. (1) or more of the following:
2. (1) The distressed utility violated one (1) or more state or federal statutory or regulatory requirements in a manner that the commission determines affects the safety, adequacy, efficiency, or reasonableness of its services or facilities.
3. (2) The distressed utility has inadequate financial, managerial, or technical ability or expertise.
4. (3) The distressed utility fails to provide water in sufficient amounts, that is palatable, or at adequate volume or pressure.
5. (4) The distressed utility, due to necessary improvements to its plant or distribution or collection system or operations, is unable to furnish and maintain adequate service to its customers at rates equal to or less than those of the acquiring utility company.

6. (5) The distressed utility:

   1. (A) is municipally owned utility property of a municipally owned utility that serves fewer than five thousand (5,000) customers; and
   2. (B) is being sold under IC 8-1.5-2-6.1 .
7. (6) Any other facts that the commission determines demonstrate the distressed utility's inability to furnish or maintain adequate, efficient, safe, or reasonable service or facilities.

As added by P.L.189-2015, SEC.1. Amended by P.L.98-2016, SEC.5; P.L.85-2017, SEC.37.