(1) The board shall manage the activities of the business improvement zone and implementation of the zone plan.

    (2) The board must consist of an odd number of directors and must not be smaller than 5 and not larger than 15 in number. The board may include 1 director nominated by the chief executive of the city or village and confirmed by the governing body of the city or village. A nomination not disapproved by a governing body within 60 days stands confirmed.

    (3) The duties and responsibilities of the board must be prescribed in the zone plan and to the extent applicable must include all of the following duties and responsibilities:

    (a) Developing administrative procedures relating to the implementation of the zone plan.

    (b) Recommending amendments to the zone plan.

    (c) Scheduling and conducting an annual meeting of the property owners.

    (d) Developing a zone plan for the next qualifying period.

    (4) Members of the board shall serve without compensation. However, members of the board may be reimbursed for their actual and necessary expenses incurred in the performance of their official duties as members of the board.