(a) The legislative audit committee, on finding that a condition of gross fiscal mismanagement exists in a state agency, may:
(1) notify the governor of the finding and recommend that the governor appoint a conservator for the agency; or
(2) recommend to the agency that it agree within a specified time to enter into a rehabilitation plan in accordance with Section 2104.0215.
(b) After receipt of a notice under Subsection (a), the governor by proclamation may appoint a conservator, in accordance with the recommendation, to act as conservator of the agency.