board of directors
board of directors. 1. The governing body of a corporation, elected by the shareholders to establish corporate policy, appoint executive officers, and make major business and financial decisions. — Also termed (esp. in charitable organizations) board of trustees. See DIRECTOR. [Cases: Corporations 297. C.J.S. Corporations §§ 460–461.] 2. The governing body of a corporation, partnership, […]
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