(1) (a) Any board of cooperative services organized under the provisions of this article shall be eligible to receive such state moneys as may be available upon receiving approval by the state board.
(b) Approval to receive state moneys under this subsection (1) does not constitute approval to receive state moneys pursuant to section 22-5-118.
(2) Unless otherwise approved by the state board, to be eligible to receive state funds under this section and under section 22-5-118, a board of cooperative services shall meet all the following criteria:
(a) It shall serve school districts with a combined total enrollment of not less than four thousand students; and
(b) It shall either serve school districts in two or more counties or serve multiple school districts located in the same county.
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