Sec. 42.3. If the superintendent of a school corporation:
(1) becomes aware of possible criminal activity involving a current or former school employee or contractor that:
(A) may have occurred on school property or at a school approved activity or event not on school property; and
(B) may have involved a current or former student who was a student at the time of the possible criminal activity; or
(2) concludes an investigation of a personnel matter that results in or could result in a suspension or termination of a school employee;
the superintendent shall, within five (5) business days, inform all members of the governing body.