(D) The board shall choose a chairman, vice chairman, and secretary/treasurer at any regular meeting. The officers shall serve one-year terms and shall hold office until a successor is elected. Officers shall have the following powers:

1. (1) The chairman shall have such powers and duties in the management of the commission as may be prescribed by the board of directors.
2. (2) The vice chairman shall work and cooperate with the chairman, in the exercise of the powers and duties of the chairman as the chairman may request, and shall act in place of and for the chairman in the event of an absence.
3. (3) The secretary/treasurer shall maintain a record of the meetings and other proceedings of the commission. The secretary/treasurer shall have the custody of all funds of the commission and shall deposit the same in the name of the commission in such bank or financial institutions as the directors may choose. The secretary/treasurer shall keep current records and financial accounts open to any director and shall give financial reports as the board may require.
4. (4) The acceptance or transfer of land or interests in land, or the execution of papers, including deeds, mortgages, leases, contracts, bonds, notes, and powers of attorney or other obligations related to land or interests in land, shall require approval of an absolute majority of the board (eight or more directors).