Indiana Code Title 8. Utilities and Transportation § 8-1-30.3-6

(1) The offered 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.

(2) The offered utility has inadequate financial, managerial, or technical ability or expertise.

(3) The offered utility fails to provide water in sufficient amounts, that is palatable, or at adequate volume or pressure.

(4) The offered 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.

(5) The offered utility serves fewer than eight thousand (8,000) customers.

(6) Any other facts that the commission determines demonstrate the offered utility's inability to capture economies of scale or to furnish or maintain adequate, efficient, safe, or reasonable service or facilities.