(1) To qualify as a commissioner, an individual:
(a) must own irrigable land within the division of the district that the individual would represent or hold an equity ownership in an entity that owns irrigable land within the division of the district that the individual would represent; and
(b) must be a resident of the county, or an adjoining county, in which some portion of the division of the district that the individual would represent is located.
(2) The commissioners appointed shall hold their respective offices until their respective successors are elected and qualified. Each of the commissioners shall qualify in the same manner as justices of the peace. The bond for a commissioner must be approved by the district court or judge of the district court and filed in the office of the clerk of the court.
(3) For the purposes of this section, the term "entity" means a corporation, a limited liability company, a business trust, an estate, a trust, a partnership, an unincorporated association, or a foundation.