(a) On the effective date of this Act, the initial board of directors is composed of the following persons:
(1) Position One: Nanci Wright;
(2) Position Two: Gene Slater; and
(3) Position Three: Rohn Boone.
(b) The initial directors appointed to serve in Positions One and Two shall serve until the first Saturday in May 2002, or until their successors have been elected and been duly qualified. The initial director appointed to serve in Position Three shall serve until the first Saturday in May 2004, or until the successor has been elected and been duly qualified.