1. Parliamentary law. The part of the hall where members of a deliberative body meet to debate issues and conduct business; esp., a legislature’s central meeting area, as distinguished from the galleries, corridors, or lobbies (the Senate floor) (nominations from the floor). See assignment of the floor under ASSIGNMENT(6); CLAIM THE FLOOR; HAVE THE FLOOR ; OBTAIN THE FLOOR; ON THE FLOOR; privilege of the floor under PRIVILEGE(6). [Cases: States 32. C.J.S. States §§ 48–50.]
2. The trading area where stocks and commodities are bought and sold on an exchange (the broker placed his buy order with the trader on the floor of the NYSE).
3. The lowest limit (the floor for that position is $25,000 per year).
