Sec. 8. (a) Each year the commission shall elect the following from among the members of the commission:
(1) A chairperson.
(2) A vice chairperson.
(3) A treasurer.
(b) An individual elected as a chairperson or a vice chairperson:
(1) serves a term of one (1) year beginning July 1 following the date the individual is elected; and
(2) may be reelected.