(a) The board shall elect one of the directors as president and one director as vice president-secretary.
(b) The vice president-secretary shall act as a secretary of the board.
(c) Each officer serves for a term of one year.
(d) The president has the same right to vote as any other director.
(e) If the president is absent or fails and declines to act, the vice president-secretary shall perform the president's duties and exercise the president's powers under this chapter.