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Classified Board |
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Classified BoardAlso known as Staggered Board is one in which, the directors are placed into different classes and serve overlapping terms. Since only part of the board can be ../../finance-glossary/d each year, an outsider who gains control of a corporation may have to wait a few years before being able to gain control of the board. This slow ../../finance-glossary/ment makes a classified board effectively delays takeovers. Sometimes known as a delay provision.Classified Board Similar MatchesClassified stockClassified stockThe division of stock into more than one class of common stock, usually called Class A and Class B. The specific features of each class, which are set out in the charter and bylaws, usually give certain advantages to the Class A shares, such as increased voting power. Classified Property TaxClassified Property TaxProperty tax which varies in rate depending on the use (zoning classification) of the property. |
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