(a)
(1) The charter of any incorporated town or city of the second class that has been inactive as an incorporated place for five (5) years or longer shall be revoked by order of the county court of the county in which the incorporated town or city of the second class is located.
(2) Upon petition by the prosecuting attorney of the county, the county court of the county may make and enter an order revoking any charter of an incorporated town or city of the second class upon a finding that the town or city will no longer be in existence.
(b) When the county court revokes the charter of any incorporated town or city of the second class, the court shall order the clerk of the court to make out and certify under the official seal of the clerk, a transcript of the order, which the clerk shall forward to the Secretary of State, to be kept on file in the office of the Secretary of State. The clerk shall also forward a copy to the Arkansas State Archives.