Sec. 2. The governing body of two (2) or more school corporations, whether:
(1) towns;
(2) cities;
(3) townships;
(4) joint schools; or
(5) consolidated schools;
situated in the same or adjoining counties may, in the manner and upon the conditions prescribed in this chapter, consolidate their respective school corporations or be required to consolidate their respective school corporations as provided under section 5.5 of this chapter.