(1) All districts formed prior to June 13, 1963, the jurisdiction over which was vested in the chancery court, upon approval of a majority of its board of directors, may petition the circuit court to assume jurisdiction.
(2) If the circuit court deems the action to be in the best interests of the landowners of the petitioning district, an order shall be entered upon the court's records to that effect. Jurisdiction shall therefore vest to the exclusion of chancery court.
(3) However, nothing in this chapter is intended to affect the validity of existing districts heretofore created under the jurisdiction of chancery court.