The board of managers shall:
(1) Adopt a seal;
(2) Keep a record of all proceedings, minutes, certificates, contracts, bonds, or employees and other business transacted by the managers;
(3) Adopt bylaws and regulations consistent with the chapter;
(4) Meet annually and such other times as may be necessary. A meeting may be called at any time by the chairman or at the request of any manager through the chairman. When so requested the secretary of the district shall mail a notice of such meeting to each member at least ten days prior thereto.