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I did not misread the statute - it is a quote, see section 722.4e(2).
Let me try to explain it to you this way. I understand as a nonlawyer you are reading the strict word of the law, as that is what I mean by you're not understanding.
When a minor becomes emancipated by court order, that minor is viewed to be an adult for certain matters such as living alone, signing contracts, etc... but can not do other things like vote, purchase alcohol, etc...
The court order terminated the parent liability to support the child. However until the child "naturally emanicipates" (turns 18), the court can revoke/rescind the court order should at some point prior to 18, that minor is no longer able to support him/herself and/or is proven to not be appropriate as an adult.
It hope that clears it up for you.