(a) The process established by this Article to rehabilitate a city's financial affairs may be initiated by the Commission. The Commission shall establish criteria for evaluating a city for financial rehabilitation under this Article. (b) The Commission shall apply those criteria to each city with respect to which the Commission has exercised its authority under G.S. 159-181(c) and each city with respect to which the Commission has received a referral from any of the following persons: (1) The State Auditor. (2) The Department of Environmental Quality. (3) The city's auditor for the current or most recent annual audit. (c) After application and review of the criteria established under this section, the Commission shall make a determination whether or not the city shall be subject to this Part and shall so notify the mayor, council, and city finance officer within 10 days of such determination.
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