Duties of the convention.

1. The convention shall establish staggered terms of office for the elected directors. Notwithstanding section 173.6 , the convention may establish terms of office for initial elected directors for more or less than two years. 2. Each year, the convention shall elect a successor to one of the two district directors whose term expires following the adjournment of the convention, as provided in section 173.4 . 3. The Iowa state fair board shall present a financial report to the convention. The report is not required to include an audit, but shall provide an estimate of the accounts under the authority of the board. [R60, §1700; C73, §1104; C97, §1654; S13, §1657-e; C24, 27, 31, 35, 39, § 2877; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §173.5 ] 91 Acts, ch 248, §4 ; 96 Acts, ch 1028, §2 ; 98 Acts, ch 1114, §4 ; 2001 Acts, ch 29, §5