(a) To be qualified to serve as a director, a person must be at least 18 years of age and:
(1) an owner of taxable property in the district;
(2) an owner of stock, whether beneficial or otherwise, of a corporate owner of property in the district;
(3) an owner of a beneficial interest in a trust that owns property in the district; or
(4) an agent, employee, or tenant of a person covered by Subdivision (1), (2), or (3).
(b) A director must meet the qualifications described by Subsection (a) at the time the director qualifies for office.