Section 14-125-405 - Directors - Certification of commission determination(a) If the commission shall determine that the proposed division or combination is practicable and feasible in its entirety, it shall appoint for each district to result from the proposed division or combination two (2) directors to act with three (3) directors to be elected in accordance with, and subject to, the terms and conditions set forth in §§ 14-125-301 and 14-125-302, except that the nominating petitions shall be filed within thirty (30) days of the determination of the commission and notice thereof to the eligible voters, as the governing body of each such district.(b) Any existing director shall be eligible to be appointed or elected as a new director.(c) The commission shall then certify to the new directors, and to the directors of each existing district which is to be divided or combined, hereinafter sometimes called "old directors", the determination of the commission as to the administrative practicability and feasibility of the division or combination, the boundaries of the proposed district, the names, addresses, and positions of the directors appointed or elected for each new district, and such other data as it deems appropriate.(d) Thereupon, the old directors of each district to be divided, if any, shall decide the proportion and manner of division of its property, assets, and rights, exclusive, however, of any executory contracts, among the new districts into which the old district is to be divided, taking into consideration the nature and source of the property, assets, and rights, the comparative sizes of the new divisions, the number of landowners of each division, and general considerations of fairness in making the allocation.(e) The directors shall notify the commission and the new directors, who are to receive any of the property, rights, and assets, of their decision; and the property, assets, and rights shall then be divided and transferred accordingly.(f) If no division of a district is to be made, the directors shall simply transfer the assets, property, and rights of the district to the new directors of the combined district of which it will comprise a part.(g) If the directors of a district to be divided are unable to agree on the division of the property, assets, and rights to be made, within sixty (60) days after the certification of determination from the commission, they shall notify the commission. After a hearing of the directors and any other persons within the district who may be, in the commission's judgment, reasonably entitled to be heard, the commission shall decide and determine finally the proportions and manner of the division and shall certify its decision to the directors, who shall proceed forthwith to divide the property, assets, and rights accordingly.Acts 1937, No. 197, § 5; Pope's Dig., § 11837; Acts 1945, No. 225, § 1; A.S.A. 1947, § 9-905; Acts 1993, No. 403, § 6.