§ 41-7-806 — Board of directors; qualifications; officers; treasurer's bond; adoption of rules and regulations; audit department report; compensation

The corporate powers of the district shall be vested in and
exercised by the board of directors of the district. No person
shall be qualified to hold office as a member of the board of
directors of any district unless he or she shall be a freeholder
or entryman of the district. The board of directors shall elect
the officers of the district who shall be a president, a vice-
president, a secretary and a treasurer, and the board shall
appoint such executive committee and other officers, agents,
servants and employees as shall be deemed necessary in
transacting the business of the district. The president, vice-
president and treasurer shall be elected from the membership of
the board of directors. The treasurer shall furnish and maintain
a corporate surety bond in an amount sufficient to cover all
monies coming into his possession or control, which bond shall
be satisfactory in form and with sureties approved by the board.
The bond, as approved, shall be filed with the secretary of
state. The board of directors may adopt rules and regulations or
bylaws, not inconsistent with the provisions of this act, for
the conduct of the business and affairs of the district. The
board of directors shall cause to be kept accurate minutes of
their meetings and accurate records and books of account,
conforming to methods of bookkeeping approved by the director of
the department of audit, clearly setting out and reflecting the
entire operation, management, and business of the district. The
books and records shall be kept at the principal place of
business of the district and at reasonable business hours always
open to public inspection. The fiscal year shall commence July
1. The board of directors, at the close of each year's business,
shall file a report of the books, records and financial affairs
of the district with the department of audit as required by W.S.