A director of aeronautics must be appointed by the commission to serve at the pleasure of the commission. The director of aeronautics shall devote full time to the duties of the office, and shall have no pecuniary interest in or any stock or bonds of any civil aeronautical enterprises. The director of aeronautics shall receive such compensation as the commission may determine and must be reimbursed for all traveling and other expenses incurred by the director in the discharge of official duties, at the same rates and under the same conditions for the payment of traveling expenses and board and lodging as is provided in section 2-05-01.