Every 2 years commencing in 1978 or 1979, as applicable, a moderator shall be chosen by ballot, by plurality vote. The moderator so chosen shall assume office upon the adjournment of the regular town business meeting held in that year in accordance with N.H. Rev. Stat. § 39:1 or 39:2-a and upon qualification for office, whichever is later. The moderator shall serve through the adjournment of the regular town business meeting 2 years following the moderator’s election and until the qualification of a successor, whichever is later. The election of the moderator in a town shall be at the annual meeting in every even-numbered year. The election of moderators in city wards shall be at every other regular city election.