A townsite incorporated pursuant to this chapter may exist so long as the corporation maintains in good condition and repair all land, buildings, fences, fixtures, billboards, signs, and other improvements of the townsite, the township is actively operating for the purposes for which the townsite is incorporated, or until the corporation is dissolved in accordance with law. The townsite must maintain the historical or educational integrity of the townsite's design, material, and workmanship of the sites, buildings, structures, and objects located within the platted townsite, including any advertising or promotional sign. The townsite must lose the status of historical or educational townsite if more than one-fourth of the number of properties experience: (1) Loss or disintegration of the roof or roofing materials; (2) Loss of windows; (3) Deterioration or missing siding material; (4) Unstable foundation; (5) Leaning severely from plumb; or (6) Billboards or signs identifying, promoting, or advertising the townsite no longer conform to the requirements of chapter 31-29 . For the purposes of this subdivision, the twelve continuous months required for determining a sign is abandoned does not apply.
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