(1) Each director, within thirty days after his or her election or appointment to fill a vacancy, except for good cause shown, shall take an oath or affirmation in accordance with section 24-12-101, except as otherwise required by this section. When an election is cancelled in whole or in part pursuant to section 1-13.5-513, each director who was declared elected shall take the oath or affirmation in accordance with section 24-12-101, except as otherwise required by this section, within thirty days after the date of the regular election, except for good cause shown. The oath shall be filed with the clerk of the court and with the division.
(2) At the time of filing said oath, each director shall file a bond at the expense of the special district, in an amount determined by the board of not less than one thousand dollars each, conditioned upon the faithful performance of his or her duties as director.
(3) If any director fails to take an oath or affirmation in accordance with section 24-12-101, except as otherwise required by this section, or furnish the requisite bond within the period allowed, except for good cause shown, his or her office shall be deemed vacant, and the vacancy thus created shall be filled in the same manner as other vacancies in the office of director.
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