I. If the charter commission is unable to obtain approval pursuant to N.H. Rev. Stat. § 49-B:4-a in time to submit its final report by the date established in N.H. Rev. Stat. § 49-B:4-b, or otherwise does not complete its preliminary or final report in accordance with the schedule established in this subdivision, it shall continue in existence for another year. Subject to paragraph II, if the commission’s existence continues, any requirements of N.H. Rev. Stat. § 49-B:4, V and VI, N.H. Rev. Stat. § 49-B:4-a, and N.H. Rev. Stat. § 49-B:4-b that have not previously been satisfied shall apply as if the commission had been elected in the second year.
II. A charter commission shall not be extended beyond a second year of existence.