Section 6-624-A - Termination of status(a) Declaration by secretary.-- (1)(i) Following a determination that the school district has satisfied and is continuing to satisfy the criteria for termination of financial recovery status enumerated in section 641-A(9), the secretary may issue a declaration terminating the school district's financial recovery status. (ii) In making the determination under this paragraph, the secretary shall consider whether the monthly financial reports submitted by the chief recovery officer to the secretary and the department concerning the school district's progress under the financial recovery plan under section 653-A(a)(3) or 664-A(a)(3) indicate that termination of financial recovery status is appropriate.(2) If the secretary determines to terminate a school district's financial recovery status under this section, the secretary shall issue a written declaration stating: (i) That the school district's financial recovery status has been terminated.(ii) The effective date of the termination of financial recovery status.(iii) A statement of the facts upon which the secretary relied in making the determination.(b) Determination upon petition by a school district.--A financial recovery school district may petition the secretary for a declaration that the school district's financial recovery status has been terminated. A declaration issued under this subsection shall comply with subsection (a). Added by P.L. 1142 2012 No. 141, § 10, eff. 7/12/2012.