Any county which has established a school or schools for the care and education of such children under the jurisdiction of the court of quarter sessions of the peace or other court sitting as a juvenile court may transfer, pursuant to an agreement between the county commissioners and the Commonwealth of Pennsylvania the terms of which have been approved by the court of common pleas of the county in which the school or schools have been established, the school or schools to the Commonwealth of Pennsylvania for maintenance and for the care and education of the children committed thereto. Upon transfer of any such school to the Commonwealth of Pennsylvania, the terms of office and the powers and duties of the board of managers of the school shall terminate.
11 P.S. § 372.1