Election of officers; salary of officers and members; per diem allowance and travel expenses of officers, members and employees; duties of Secretary-Treasurer

1. The Board shall elect a President. No person may serve as President for more than 4 consecutive years.

2. The Board shall elect a Vice President.

3. The Board shall elect a Secretary-Treasurer, who may or may not be a member of the Board. The Board shall fix the salary of the Secretary-Treasurer, which must not exceed the sum of $3,600 per year.

4. Each officer and member of the Board is entitled to receive: (a) A salary of not more than $150 per day, as fixed by the Board, while engaged in the business of the Board; and (b) A per diem allowance and travel expenses at a rate fixed by the Board, while engaged in the business of the Board. The rate must not exceed the rate provided for state officers and employees generally.

5. While engaged in the business of the Board, each employee of the Board is entitled to receive a per diem allowance and travel expenses at a rate fixed by the Board. The rate must not exceed the rate provided for state officers and employees generally.

6. The Secretary-Treasurer shall: (a) Keep a record of all proceedings of the Board. (b) Give to this State a bond in the sum of $3,000, with sufficient sureties, for the faithful performance of his or her duties. The bond must be approved by the Board.