Is HOA board election required if only current members are running?

We are an HOA community of 23 townhomes in New Hampshire.  There are five members on the board of directors, and members serve two-year terms once elected.  There are three open seats this year, and yesterday was the cutoff date for owners to announce if they were going to run.  The only candidates running are those current board members whose terms are expiring.  Are we required to hold an election?  Thanks in advance.