powers (noun, pow-ers, \ paʊrz \) of directors (noun, di-rec-tors, \ dəˈrektərz \)
Definition: all members of a company’s board of directors possess certain powers that are given to them by corporate legislative regulations and the organization’s own articles of association. These powers typically include the rights to: a) function as the company’s agents, b) have unrestricted entry to the organization’s accounts, c) sign contracts on the company’s behalf, d) lease and acquire securities, and e) establish the terms and conditions regulating how the organization’s shares are distributed and transferred.
In a Sentence:
- Finch executed his powers of directors to secure a contract with a new software supplier.
- I think you’re forgetting that the powers of directors allow you to operate as a company’s full-fledged agent.
- Once the board’s members made use of their powers of directors, they completely changed how the company sells its shares to new members.
Synonyms and related words: director, executive director, responsibilities of directors, duties of directors
