The board, upon receipt of a copy of incorporation papers, constitution, bylaws and resolutions, if any, of a nonprofit corporation applying for recognition as a regional tourist promotion council under the provisions of this chapter is hereby authorized to designate such corporation as a regional tourist promotion council whenever the board shall determine:
Upon determining that an applying corporation is eligible for designation as a regional tourist promotion council, the Mississippi Agricultural and Industrial Board shall upon a majority vote of said board designate such council as the participating council for such region and shall certify same to the applying council. The board is hereby authorized to revoke or suspend its designation of any regional tourist promotion council whenever the board shall determine that said council is not complying with the rules and regulations of the board, or has failed to comply with the terms of any grant made to such council pursuant to the provisions of this chapter.