(a) Appointment.--Within 30 days after a vacancy occurs in the office of city controller or in the office of city treasurer or if an elected city controller or city treasurer has failed to qualify under section 10701 (relating to elected officers, term, reelection and vacancy) prior to taking office, council must appoint a qualified individual to fill the vacant office.

(b) President judge.--If a council does not fill a vacancy within 30 days under subsection (a), the president judge of the court of common pleas having jurisdiction within the city must fill the vacancy upon the petition of at least 10 registered voters of the city.

(c) Term.--An individual appointed under subsection (a) or (b) shall serve for the lesser of the following terms:

(1) For the remainder of the unexpired term of the controller or treasurer whose office has become vacant.

(2) Until the first Monday of January after the next municipal election occurring at least 200 days after the vacancy occurs.

(d) Unexpired term.--If necessary to fill the unexpired term of the controller or treasurer whose office has become vacant, an individual shall be elected at the municipal election referred to under subsection (c)(2) to serve from the first Monday of January after the election for the remainder of the unexpired term.

(e) Bond.--If an individual is elected or appointed to fill an office for which a bond is required and if within 14 days of the date the individual is scheduled to take the oath of office at the organizational meeting of council the individual fails to post a bond, the office shall be deemed to be vacant and the resulting vacancy shall be filled as provided under this chapter.