Section 6-52-301 - Requisites for forfeiture(a) If any municipal corporation with a population of one hundred (100) inhabitants or fewer according to the latest federal census fails to exercise its corporate powers as described in § 6-52-302, then it shall, as a municipal corporation, forfeit its charter.(b) Such forfeiture shall become effective upon the issuance of a court decree to that effect as prescribed in § 6-52-303.