A board of directors consisting of at least 5 members may be elected by the stockholders of the society at their annual meeting. Vacancies occurring on the board between annual meetings may be filled by the board. The bylaws or articles of association may provide that anyone of the board may hold office for 1, 2 or 3 years. The board of directors shall elect a president, a secretary and a treasurer, and any other officers, either from their own number or from the other stockholders as the articles of association or the bylaws may provide. Each of the officers and directors shall be entitled to 1 vote on questions coming before the board. A majority of the officers and directors shall constitute a quorum to transact business. Such officers and directors shall constitute a board of management of the affairs of the society. They shall manage the property and business of the society to best promote the interests of educational, agricultural, horticultural and mechanical arts; they may hold fairs and exhibitions and distribute premiums for the best and most meritorious animals or articles exhibited in the several departments, as shall be provided by their bylaws and regulations. A member of any regularly organized agricultural society must be enrolled and recorded at least 30 days prior to the annual meeting, to be able to vote at such meeting.