Section 1207.504 - Term of office(a) The term of office of Board members shall be for three years and shall begin March 1 and end on the last day of February.(b) Board members shall serve during the term of office for which they are selected and have qualified and until their successors are selected and have qualified.38 FR 7123, Mar. 16, 1973, as amended at 49 FR 2093, Jan. 18, 1984