A. Boards of directors of conservancy districts shall consist of five members each of whom shall be a qualified elector of the district, and shall be bodies corporate, may sue and be sued and shall have all of the statutory rights, powers, obligations and duties conferred upon or required of the boards of directors of conservancy districts created under the Conservancy Act of New Mexico [73-14-3 N.M. Stat. Ann.].

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B. Members of boards of directors shall be elected at large from the entire conservancy district and shall serve for a term of six years except as provided in Section 73-14-75 N.M. Stat. Ann. which establishes staggered terms for the first elected board.