The State Board of Education shall elect from its own membership a president and a vice president and otherwise organize itself for the conduct of business. It shall then consider the appointment of and contracting for a Commissioner of Education whose appointment may be for a period of three years. During such term the commissioner may be removed from office for the causes set forth in subdivision (2) of section 79-318. The commissioner shall be the secretary of the board. The board shall reorganize itself each two years at its first meeting in the next calendar year following a general election. The board shall constitute a body corporate to be known as the State Board of Education, and as such it shall adopt and make use of a common seal and may receive, hold, and use money and real and personal property for the benefit of the school system of the state.