(a) Prior to adopting a resolution to dissolve under G.S. 160A-868, the council must develop a plan of action to distribute all assets and liabilities of the city, and that plan must be approved by the Commission. However, the council may, at a regular meeting separate and apart from any public hearings required to be conducted by G.S. 160A-864, adopt a resolution to request the assistance of the Commission to develop the plan of action.
(b) The council shall assist the Commission with any information, cooperation, coordination, or other action needed by the Commission in assessing and considering the plan of action. The Commission may modify the plan of action prior to approval.
(c) Upon notification from the Commission that the Commission has approved the plan of action, the approved plan of action shall be presented at a regular meeting of the council.