A vacancy on the board of directors shall exist in the event of the

(1) Death, disability or removal from district of any directors;

(2) Removal from the subdivision from which the director was elected; or

(3) Elimination or detachment from the district of the territory in which a director or directors reside.

In the event of a vacancy, the vacancy shall be filled by the board of directors.

Source: SL 1950 (SS), ch 17, § 23; SDC Supp 1960, § 52.1723; SL 1989, ch 403, § 15.