John,
You are most likely on a 2 year rotation scheedule. Say for instance--if you have 5 Board members, 3 are elected at a time and the next year 2 are elected. That way every Director serves for 2 years but only 2 or 3 are replaced at a yearly meeting.
Just to make something clear, the Annual Meeting DOES NOT have to be your election time. Normally it is but elections are different than an Annual Meeting. THAT! is what is required--an annual meeting.
Yes, State Statutes will supercede a HOAs documents if there is a conflict. What I need for you to do is to read the Statute wording very carefully and understand what the State did in writting the Statutes. They will say very often--"unless the governing documents, or notwithstanding or shall" and a few other specific words. These are the key words which either allow or forbid the governing docs of your HOA to have higher or lower restrictions. This is the worst part of understanding the laws but it is also the key to what you can or cannot change in your own docs. I hope that I have not confused you too much.