(1) Within thirty (30) days after a watershed conservancy district is created, nominating petitions may be filed with the board of supervisors for the election of a board of directors consisting of five (5) members, who shall hold office for a term of four (4) years, or until a successor is qualified. Such board of directors shall, under the supervision of the board of supervisors, be the governing body of the watershed conservancy district. The board of supervisors shall give due notice of the election of directors and shall, as nearly as practicable, condu ct the election in the manner prescribed by KRS 262.220. (2) If the territory embraced within a watershed conservancy district lies within more than one (1) soil and water conservation district, each of said additional districts with minority of the land involved in the watershed shall be entitled to elect three (3) additional directors. (3) The board of directors shall annually elect from its membership a chairman, secretary, and treasurer. The treasurer shall execute an official bond for the faithful performance of the duties of his or her office to be approved by the board of directors. Such bond shall be executed with at least three (3) solvent personal sureties whose solvency must exceed the amount of the bond, or by a surety company authorized to do business in this state, and shall be in an amount determined by the board of directors. If the treasurer is required to execute a surety company bond, the premium on the bond shall be paid by the board of directors. (4) Each person desiring to be a director of a watershed conservancy district shall file a nominating petition with the board of supervisors of the county in which he or she is a landowner and legal resident, signed by twenty -five (25) or more landowners within the watershed conservancy distric t of the county involved, or, if less than fifty (50) landowners are involved a majority of such landowners. Nominating petitions for the election of any director following the first election of members of the board after creation of the district shall be filed with the board of supervisors not less than forty -five (45) days prior to the day of the regular election. If the candidates nominated do not exceed the positions available, they shall be declared elected. No person shall be eligible to be a director of a watershed conservancy district who is not a landowner within the watershed and resident of the county in which the watershed is located. (5) A director who has been declared elected without an election pursuant to subsection (4) of this section may be removed from office by the board of supervisors as provided by KRS 65.007 for removal of an appointed member of the governing body of a special district. (6) A director serving on the board of a watershed conservancy district shall be immune from personal liability in any civil or criminal action which is based upon any official act or acts performed reasonably and in good faith by the director.
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