(b) A vacancy occurring in a director position shall be filled in the same manner as the initial appointment to that position, provided however that no individual may serve as director for more than three successive terms.

(c) The board of directors may:

(i) delegate to one or more of its directors, officers, agents or employees such powers and duties as it may deem proper;

(ii) establish the procedure by which the fund shall determine how to provide the benefits due pursuant to this article;

(iii) establish accounting and record-keeping procedures for all financial transactions of the fund, its agents and the board of directors;

(iv) establish a procedure for determining and collecting the appropriate amount of assessments under and as consistent with this article;

(v) set forth the procedures by which the fund may exercise the audit rights granted to it under this article;

(vi) establish procedures to ensure prompt and accurate notification to the fund by independent livery bases of all deaths of independent livery drivers, and all injuries to livery drivers that resulted from a crime for which there is a police report, and provide for full reimbursement of the fund by any member whose failure to provide such notification results in the imposition of a penalty on the fund by the workers' compensation board;

(vii) recommend changes in the law or regulations governing workers' compensation benefits with livery drivers; and

(viii) engage in such additional actions as the board of directors may deem necessary or proper for the execution of the powers and duties of the fund.