I noticed that you cannot have two accounts with Guild Master Privileges. However, is there anyway that on our site we could get a second account with Rank 1 privileges? The two accounts that should have Rank 1 are Kaelye and Garosh

This is by design. Having multiple Rank 1 accounts only leads to problems.

What you would want to do to get as close to this as possible, is to create a second rank under "Rank 1" with the same name. Then those users you want to have more functionality, edit their account, and check the box for "Full Admin Privileges". They'll have virtually Rank 1, without the core stuff, like being able to change the web address, cancel the site, and other Rank-1-specific functions.