Under its constitution, which was drawn up and introduced in 2012, board members have different terms and are appointed by a selection panel.
Board members Simon Spark and Kelvin Collins have both been on the board for two years and their terms are at an end, although they can stand again.
When contacted, Spark, of Queenstown, said he was intending to stand again.
He said it had been an enjoyable two years and he wanted to continue.
''I definitely want to stay involved. I think we have made some real progress and want to continue that progress.
''I have enjoyed it a lot and it has been a lot of fun. There are some challenges out there but I think the board works well together.''
Spark was heavily involved in the Arrowtown rugby club, and was part of a group attempting to build a community recreation facility in Arrowtown.
Collins, a businessman, also in Queenstown, said he had not made his mind up about standing again.
Andrew Rooney and Steve Quin were appointed to the board last year.
Rooney had been on the old board which was changed in shape and personnel after Otago nearly went into liquidation in early 2012.
The board managed to turn the union round financially last year and reported a profit of more than $200,000.
Under the new constitution, the board is appointed by a selected panel. The board needs to be a mix of business skills and rugby knowledge, and clubs no longer have a say on who is selected.
Applications close on January 20.
