(a) As soon as practicable after a director is elected or appointed, the director shall execute a bond for $10,000 payable to the district and conditioned on the faithful performance of the director’s duties.
(b) The bond must be approved by the board.

(c) The bond and the director’s constitutional oath or affirmation of office shall be filed with the district and the district shall retain the bond and the oath or affirmation in the district’s records.