1. (a) The directors shall be appointed on the third Monday of January.

2. (b) The initial terms of the governing board are as follows:

   1. (1) Two (2) members for one (1) year.
   2. (2) Two (2) members for two (2) years.
   3. (3) One (1) member for three (3) years.
   4. (4) Two (2) members for four (4) years.
3. (c) Each subsequent term is for four (4) years.

4. (d) The term of each member begins February 1 in the year of appointment at the expiration of the member's predecessor's term and continues four (4) years and until a successor is appointed and qualified. However, an interim member chosen to fill a vacancy begins tenure at the time specified in the member's certificate of appointment and serves the unexpired term of the member the interim member succeeds.

   [Pre-1993 Recodification Citations: 16-12.2-5-5; 16-12.2-5-7 part.]

As added by P.L.2-1993, SEC.6.