The board shall elect annually from its members a president, vice president, and secretary. No member may serve as president more than three consecutive one-year terms. The board may promulgate rules, pursuant to chapter 1-26 , to carry out and make effective the provisions and purposes of this chapter. The board shall examine candidates for license and transact any business that comes before it at least twice annually in June and December of each year, at such times and places as may be designated by the board.
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