Board of Trustees
/ˈbɔːrd əv ˈtruːstiz/
Definitions
- (n.) A group of individuals legally appointed or elected to manage the affairs of an organization or institution, often a nonprofit, corporation, or trust.
The board of trustees approves the annual budget for the university.
- (n.) The governing body responsible for overseeing the administration and preservation of a trust's assets in accordance with legal duties and fiduciary obligations.
The board of trustees ensured the trust funds were invested prudently.
Forms
- board of trustees
Related terms
See also
Commentary
'Board of trustees' typically denotes a collective fiduciary role involving legal and ethical duties; drafting should distinguish it clearly from similar entities like 'board of directors.'
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.