House Bill No. [insert number] enacts R.S. 45:1206, which establishes a legal framework for the receivership of water and wastewater companies in Louisiana. The bill defines key terms such as "water company" and "wastewater company," and outlines the conditions under which a court may appoint a receiver to manage these companies. The court can place a company in receivership if it has been abandoned, fails to comply with regulatory orders, is in financial distress, or meets other criteria set by the commission. Additionally, the bill specifies that the commission's application for receivership does not require a bond, and if a private receiver is appointed, they must execute a bond unless waived by the court.

The bill also details the responsibilities of the receiver, including the submission of a transition and operational plan within ninety days of their appointment. This plan must address service restoration, financial assessments, customer service provisions, and timelines for resolution. Furthermore, the court has the authority to dissolve the receivership upon request from the company owner or operator, provided they can demonstrate good cause for such dissolution. The legislation aims to ensure the continued operation and compliance of water and wastewater services in the state.