Candidates for membership on the board shall be electors of the municipalities involved. Each shall be nominated by nomination papers signed by a number of electors in their municipality or residence which is affected by the compact equal to at least 2% of the largest vote cast for any elected officer of the municipality elected at the last preceding municipal election. Nomination shall be in the manner provided by and subject to the provisions of the act of June 3, 1937 (P.L.1333, No.320), known as the Pennsylvania Election Code, which relate to the nomination of candidates nominated by nomination papers filed by political bodies for other offices elected by the voters of the municipality. Nomination papers shall not be circulated prior to 30 days before the last day on which the papers may be filed and shall be filed with the election officials not less than 44 days prior to the date of the election.