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Explanation: Grace, I sent an answer about an hour ago, and alack and alas I disappeared it instead of sending it. I had found very few records with Google of "annotazioni di privilegi," the same standard legal sentences in acts and regulations, concerning an "ordine di priorita'
If these are company cars then I would say that the CEO allocated priority of use for the same, establishes a certain order of precedence, so to speak.
Explanation: The way I understand the sentence the Board of Directors has the power to give the vehicles in guarantee against loans or credit lines. Banks giving a credit line to a car dealership will often take the vehicles as guarantee
Privilegio (giuridico) = titolo di prelazione accordato ad un creditore rispetto ad altri creditori
Rita Cavaiani Local time: 08:20 Native speaker of: French, Italian PRO pts in pair: 43