If a director is ever employed as authorized by § 5 of Act 197, being M.C.L.A. § 125.1655, as amended, he or she shall post bond in penal sum as may be required by the Board of Trustees at the time of appointment and shall be in conformance with § 5 of Act 197, being M.C.L.A. § 125.1655, as amended.
(1991 Code, § 1.216)