Without knowing the standing rules of your specific P.T.A. it is hard to answer, however, contact your P.T.A. rep immediately. You should be able to find contact information on your State website.
By the P.T.A. guidelines, the Executive Board must be nominated in, accept the nomination, and be voted on at a General Membership Meeting in which quorum was established.
The principal cannot place a P.T.A. on inactive status or disband it. A P.T.A. is a non-profit organization which has specific guidelines established on a national and state level and the I.R.S. The principal can however make it impossible to have an effective P.T.A. by not allowing information to be sent home with students, refusing to allow the school to be used during school hours (ie: popcorn days, field days, Book fairs, etc).
The principal at my school appointed the PTA president. We now have issues, as she has no idea what she is doing. Can the principal disband the PTA if she chooses.