board of directors

board of directors definition - legal

n

The governing body of a corporation elected by the shareholders to establish and carry out corporate policy, select the corporationÂ’s officers, make certain major decisions concerning the corporationÂ’s business and finances, and to oversee the corporationÂ’s operations.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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