Any school district may apply for transfer from one intermediate unit to another intermediate unit with which its boundaries are contiguous by submitting a written request for such transfer to the State Board of Education, along with reasons for requesting such transfer and with the written approval or disapproval of all school districts within the intermediate unit of which the school district is a member and all school districts within the intermediate unit to which it wishes to transfer. If the State Board of Education approves the transfer, it shall be effective the following July 1. In no event shall a transfer be made without the approval of all the school districts within all intermediate units involved in said transfer.