(1) After 1990, the State Board of Education shall be authorized to dissolve any education service cooperative upon the request of a majority of its school district boards of directors or upon the recommendation of the evaluation committee provided for in § 6-13-1021.
(2) A dissolved education service cooperative's area shall be assigned to one (1) or more adjacent education service cooperatives, the provisions of § 6-13-1003 notwithstanding, with the dissolved education service cooperative's base funding apportioned to all remaining education service cooperatives in the state.
(3) After payment of debts, the assets of a dissolved education service cooperative shall be distributed to the school districts in its service area based on each school district's three-quarter average daily membership for the immediately preceding school year.