The following conditions shall apply to every plan of change in which the proposed method of election is a district method:

(a) The proposed member districts shall (1) each be comprised of one contiguous compact area, (2) have equal population as nearly as is practicable, and (3) exclude no territory of the school district in the proposed change, and (4) no territory shall be included in more than one member district.

(b) The proposed member districts shall be so planned that no holdover member will be displaced by establishment, renumbering or rearrangememt of member districts by inclusion of more holdover members in a single proposed member district than is authorized by this act.