The board of directors of a consumers power district may adopt rules and regulations, or bylaws, which are not inconsistent with the provisions of chapters 49-35 to 49-40 , inclusive, for the conduct of the business and affairs of the district. A majority of the members of the board of directors shall constitute a quorum for the transaction of official business and the decision of the majority of the members of the board shall be required to be the act of the board.
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