Rural water companies; strengthen audit requirements and expand PSC authority over.

This bill strengthens oversight of Mississippi's rural water companies by requiring annual financial reporting and expanding the Public Service Commission's (PSC) authority. It mandates that nonprofit rural water companies file detailed financial reports with the State Auditor by July 1 each year and notify subscribers about report availability. Companies failing to comply may face penalties including dissolution or loss of nonprofit status. Additionally, the bill explicitly grants the PSC power to cancel a rural water company's service certificate if it fails to provide reasonably adequate service, with specific requirements for hearings and corrective orders.