Definition - Noun
often cap 1 a  : a group of individuals having managerial, supervisory, investigatory, or advisory powers over a public or private business, trust, or other organization or institution <Board of Regents> <Board of Bar Overseers>
b  : See also board of directors
2 a  : a group of citizens elected to administer the business of or an aspect of the business of a political unit (as a town or county) <a ~ of selectmen>
b  : a federal, state, or local government agency
see also National Labor Relations Board in the Important Agencies section
3  : a securities or commodities exchange
see also board of trade

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Based on Merriam-Webster's Dictionary of Law ©2001.
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