Section 6-676-A - Transition period(a) Board resumes control.--Subject to the provisions of subsections (b) and (c), after a receivership granted under section 671-A expires according to the provisions of section 675-A, the following shall apply: (1) The board of school directors shall resume full control over school district management.(2) The chief recovery officer and the department shall oversee the board of school directors for five years to ensure financial stability is maintained. (b) Declaration of financial recovery status.--If, during the transition period after the expiration of the receivership, the board of school directors fails to maintain the objectives stated in the financial recovery plan, the school district shall be subject to a declaration of financial recovery status under Subdivision (i). (c) Oversight where municipalities financially distressed.-- Notwithstanding the provisions of subsection (a), the chief recovery officer and the department shall oversee the board of school directors of any school district formerly in receivership under this subdivision for so long as any political subdivision located within the school district is a financially distressed municipality under the act of July 10, 1987 (P.L.246, No.47), known as the Municipalities Financial Recovery Act, without regard to whether the school district continues to maintain the objectives stated in its financial recovery plan.Added by P.L. 1142 2012 No. 141, § 10, eff. 7/12/2012.