staggered board of directors

A board of directors whose members’ terms of service overlap so that only part of the board’s makeup is voted on in any single election.

• Typically, members serve terms of two or more years, with some members’ terms expiring at each annual election. See Del. Code Ann. tit. 8, § 141 (1991) (authorizing classified boards with two or three classes having twoor three-year terms).

— Also termed classified board of directors. [Cases: Corporations 291. C.J.S. Corporations §§ 450–451.]

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词条贡献者

译者Glen，毕业于世界顶级翻译学院，擅长翻译各种与房地产诉讼相关的法律文件。