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82a-2410. Same; election of board of directors; conduct of business; filling vacancies. (a) Within not more than 90 days after the recording of the certificate of incorporation, a meeting open to all eligible water right holders of the district shall be held by the steering committee for the election of the initial board of directors of the district. A notice of the meeting shall be mailed to all eligible water right holders by the steering committee at least 10 days prior to the date thereof.

(b) Each eligible water right holder shall have one vote and one additional vote for every 10% of the combined quantities of all water rights within the district. Each eligible water right holder in the district shall be entitled to vote for as many candidates as the number of directors that are to be elected.

(c) The candidates receiving the greatest number of votes cast shall respectively be declared elected. The board of directors, after being duly elected, shall elect from its number a president, vice-president, secretary and a treasurer. In districts having only three directors, the board shall elect one director to hold the offices of secretary and treasurer.

(d) A majority of the directors shall constitute a quorum for the transaction of business and a majority of those voting shall determine all actions taken by the board. In the absence of any of the duly elected officers, those directors present at any meeting may select a director to act as an officer pro tem.

(e) The elected board shall fill any vacancy occurring on the board prior to the expiration of the term of any director by selecting a replacement from among the eligible water right holders of the district to serve for the unexpired term.

History: L. 2012, ch. 97, ยง 10; July 1.

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