SDCL § 46A-18-22: Organization of directors--Chairman--Secretary-treasurer.

The directors shall organize by electing one of their members chairman and one vice-chairman and by appointing a secretary-treasurer, who is not a member of the board and whose compensation and bond shall be set by the directors. The directors shall provide the necessary books, records, furniture, and equipment for the conduct and transaction of official business.

Source: SL 1984, ch 293, § 21.