Removing a bad president

I wasn't able to find anything on point through searching, so forgive me if this has been addressed elsewhere.

My chapter president is running my sorority into the ground. We are small, under 40 members. She was elected in November, and ever since, she has been more detrimental to the well being of our chapter every day. Just a few things:

1) She chose last minute to run for president, and that created a lot of negativity toward her in the first place from the girls who were upset that the other candidate didn't win.
2) She was only in the chapter for a year before she was elected, and she still doesn't really know our rules or bylaws. People ask her questions and she cannot answer them, and it's unacceptable that our own president does not know our rules.
3) She abuses her power constantly...for instance, our recruitment director last semester didn't make grades and she and our vice pres. lied about it until someone leaked the info to our whole chapter. Instead of electing a new recruitment director, she held the position for formal recruitment weekend and we got fined for several mistakes she made.
4) She is not a good role model or someone the rest of us can respect. She has no problem with attending unregistered parties (which you can get in massive trouble for on our campus), she fell off of a bar a few weekends ago and is always outrageously sloppy in public, and she has had to be dragged out of fraternity boys' bedrooms every time we have had a mixer or even Greek Week practice.

I don't know how to deal with her. The only system we have in our chapter is our standards board, but due to the complicated rules about our standards board and the fact that our chapter advisor is totally out of touch with our chapter, I doubt going to our standards board will help.

Should I go to nationals? I tried to talk to her and she said "Don't even start that with me." If she isn't removed as president, things are going to get progressively worse and I don't know how much more our members can take. She lives in the house, and it appears that everyone except her housemates is against her. It's just a sticky situation and we don't know what to do.

Has anyone else been in a similar position? I would appreciate any advice.