Board Of Directors

Board Of Directors
An appointed or elected body or committee that has overall responsibility for the management of a nonprofit or nonstock organization, such as a foundation, university or mutual fund. The board of trustees holds "in-trust" the funds, assets or property that belong to others and has a fiduciary duty to protect them. Most importantly, the board of trustees oversees and advises management on issues facing the organization.

Mutual savings banks have boards of trustees who ensure that the interests of the depositors, borrowers, and members of the community in which they serve are considered and protected by bank management. The board has the duties of making sure customers' deposits are secured and invested safely, interest is paid to depositors, and that the customers' principal is available to them on request.


Investment dictionary. . 2012.

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  • board of directors — often cap B&D: a group of individuals elected by the shareholders of a corporation to manage the corporation s business and appoint its officers Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. board of directors …   Law dictionary

  • Board of directors — For other uses of trustee , trusty , and related terms, see Trustee (disambiguation). Board Room redirects here. For the Board Room member lounge, see Alaska Airlines. trustee in trust redirects here. A board of directors is a body of elected or… …   Wikipedia

  • Board of Directors — Individuals elected by the shareholders of a corporation who carry out certain tasks established in the charter. Bloomberg Financial Dictionary * * * board of directors ˌboard of diˈrectors noun boards of directors PLURALFORM [countable] also… …   Financial and business terms

  • board of directors — A group of *directors with ultimate responsibility for the *stewardship of an organization. Boards of directors have been described as inescapably, the centre of the (corporate) governance system (Cadbury, 2002, 33). Boards exercise their… …   Auditor's dictionary

  • board of directors — /ˌbɔ:d əv daɪ rektəz/ noun 1. GB a group of directors elected by the shareholders to run a company ● The bank has two representatives on the board of directors. 2. US a group of people elected by the shareholders to draw up company policy and to… …   Dictionary of banking and finance

  • Board of Directors — Das Board of Directors (deutsch etwa Verwaltungsrat) ist im anglo amerikanischen Raum das Leitungs und Kontrollgremium eines Unternehmens. Meist vereinigt es in etwa die Funktionen von Vorstand und Aufsichtsrat einer deutschen… …   Deutsch Wikipedia

  • Board Of Directors - B Of D — A group of individuals that are elected as, or elected to act as, representatives of the stockholders to establish corporate management related policies and to make decisions on major company issues. Such issues include the hiring/firing of… …   Investment dictionary

  • board of directors — noun a group of persons chosen to govern the affairs of a corporation or other large institution (Freq. 3) • Syn: ↑directorate • Hypernyms: ↑board • Hyponyms: ↑staggered board of directors • …   Useful english dictionary

  • board of directors — boards of directors N COUNT A company s board of directors is the group of people elected by its shareholders to manage the company. [BUSINESS] The Board of Directors has approved the decision unanimously …   English dictionary

  • Board of Directors — ⇡ Board System, ⇡ Organisationsverfassung …   Lexikon der Economics

  • board of directors — The governing body of a corporation elected by the stockholders; usually made up of officers of the corporation and outside (non company) directors. The board is empowered to elect and appoint officers and agents to act on behalf of the… …   Black's law dictionary

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