Sec. 12. (a) After reviewing:
(1) the assessment of a school corporation's financial condition made by the executive director under section 11 of this chapter; and
(2) the school corporation's fiscal and qualitative indicators;
the DUAB shall make a determination of whether a corrective action plan is necessary for the school corporation.
(b) If the DUAB makes a determination that a corrective action plan is necessary for the school corporation, the DUAB shall notify the governing body and the superintendent of the school corporation that the school corporation must develop and submit to the DUAB a corrective action plan for the school corporation within ninety (90) days after the notice is provided.
(c) If a school corporation does not prepare and submit a corrective action plan to the DUAB within ninety (90) days after the notice is provided under subsection (b), the DUAB shall place the school corporation on the watch list under section 17 of this chapter.
As added by P.L.213-2018(ss), SEC.15.