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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 : 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
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.