term limit

noun
Often, term limits. a statutory limit on the number of terms an official may serve: the Twenty-second Amendment, which imposed term limits on U.S. presidents.
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Dictionary.com's 21st Century Lexicon
Main Entry:  term limit
Part of Speech:  n
Definition:  a legal restriction on the number of times a person may be elected to and serve in a particular public office
Example:  Term limits are a major issue in U.S. politics, but rarely elsewhere in the world.
Etymology:  1861-66
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Example sentences
No other state has such a term limit, and it is difficult to find qualified
  applicants to serve for only a six-year term.
The local government is made up of a governor that is elected every four years
  and term limit applies.
Members filling unexpired terms on the council will not have any partial term
  of service count against the two-term limit.
Accordingly, the final rule contains no short-term limit for this substance.
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