Formation of special education cooperative

Sec. 2. A participating school corporation or charter school, together with one (1) or more participating school corporations or charter schools, may form a special education cooperative in accordance with the provisions of either sections 13 through 15 of this chapter or section 16 of this chapter, but subject to the limitations of this section and sections 3 through 8 of this chapter, by adopting an agreement that contains the following provisions: (1) A plan for the organization, administration, and support for the special education cooperative, including the establishment of a board of managers. (2) The commencement date of the establishment of the special education cooperative, which must be contemporaneous with the beginning of a school year. (3) The extension of the special education cooperative for at least five (5) school years and a provision that the special education cooperative will extend from school year to school year after the five (5) year period unless the special education cooperative is terminated by action of the governing bodies or governing boards of a majority of the participating school corporations and participating charter schools that is taken at least one (1) year before termination of the agreement.