SALES, TRANSFERS, AND MERGERS FOR CERTAIN RETAIL PUBLIC UTILITIES.

(a) The utility commission by rule shall adopt an expedited process to authorize a municipally owned utility, a county, a water supply or sewer service corporation, a public utility agency, or a district or authority created under Section 52, Article III, or Section 59, Article XVI, Texas Constitution, to acquire the stock or ownership interest under Section 13.302, or assets under Section 13.301, of a utility in receivership under Section 13.412, a utility in supervision under Section 13.4131, or a utility in temporary management under Section 13.4132, and, if applicable, its certificated service area, in the manner provided by Sections 13.301 and 13.302.

(b) The municipally owned utility, county, water supply or sewer service corporation, public utility agency, district, or authority must have been appointed as a temporary manager or supervisor for the utility by the utility commission or commission or as a receiver for the utility at the request of the utility commission or commission before filing an acquisition application under this section.

(c) The process must:

(1) be based on the expedited process adopted under Section 13.301(l), except for any aspects of the process that cannot be applied to an entity over which the utility commission does not have original rate jurisdiction;

(2) waive public notice requirements;

(3) require approval of the acquisition transaction if the transaction is considered to be in the public interest; and

(4) provide that the municipally owned utility's, county's, water supply or sewer service corporation's, public utility agency's, district's, or authority's appointment is considered sufficient to demonstrate adequate financial, managerial, and technical capability for providing continuous and adequate service to the service area to be acquired and any areas currently certificated to the municipally owned utility, county, corporation, public utility agency, district, or authority.