This topic can become a severely beaten horse, but I haven't seen anyone put 'current' rules into the pot.
How about 1-10-1. Each basket shall consist of.... ...suspended from beneath the ring.
Suspended - verb. To hang so as to allow free movement.
Should you not allow play to continue, as you would with other improper equipment. I.E. If after a dunk, a collapsable ring did not spring back to parallel, you would definitely not let play continue.
I also don't like having an unnecessary interruption in the game but it can be argued by rule that it should be taken care of.
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