(1) A person is not eligible for the office of mayor unless the person:
(a) is at least 21 years old;
(b) has been a resident of the state for at least 3 years; and
(c) has been a resident for at least 2 years preceding the election to office of the city or town or an area that has been annexed by the city or town.
(2) The office of mayor of a city or town is considered vacant if the individual elected as mayor ceases to be a resident of the city or town.