(a)
(1)
(A) Each public body corporate and politic shall be administered and governed by a board of directors, with each director residing within the jurisdiction of the public agency which he or she represents.
(B) Each director shall be appointed by the governing body of the public agency which he or she represents, with all vacancies being likewise filled within forty-five (45) days.
(2)
(A) The directors shall receive no compensation for their services, but they shall be entitled to reimbursement of expenses incurred in the performance of their duties.
(B) No director may serve more than six (6) consecutive years.
(3) Before entering upon their duties, the directors shall take and subscribe to an oath of office swearing to discharge faithfully their duties in the manner provided by law.
(b)
(1) The board of directors shall appoint a paid executive director, who shall be in charge of the daily operations of the public body and shall be responsible for submitting a budget to the board of directors for approval and the hiring, dismissal, and compensation of other staff.
(2) The board of directors shall have final approval of all budgets.