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How do you overthrow the board of directors of a publicly owned bank?

i work at a locally owned bank, not run by stock holders, and a lot of other employees and i are talking about overthrowing the board of directors next year (2008). we know it can be done because it is a publicly owned bank, that is, owned by the customers. we need to know how to go about it the right way so that we are sucessfull. i know that we can get enough people behind us to vote us in but is there any legal issues we have to go through first?

Public Comments

1. get the mafia on your side.
2. The first thing you need to check is the corporation laws of your state. The next thing you need to check are the by-laws of the bank - that will tell you who can run, what the qualifications are, who can vote - the whole nine yards.
   
   
   
   Good luck.
   
   
   
   PS - Your state banking commission might also have something to say about that. It would be wise to check their regulations, too.
3. Is your Bank a Co-Operative Bank? Then the Co-operative Societies Act of the State will show you the provisions for removal of an elected Board of Directors. If the Bank is incorporated under the Banking Companies Act, there also correspondig provisions exist for the purpose.
   
   
   
   First and foremost, if you are convinced that the majority of the shareholders want a change and are prepared to wait till the next Annual Election, there is no question of any other procedure. The simple process of filing nominations by the persons acceptable to the majority will make sure that get they elected. Before that you make sure that everyone of your voters is qualified to vote... that is to say they should not be defaulters to the Bank, or otherwise disqualified under any of the clauses for disqualification.If this care is not taken , at the last moment you will find that your sure majority is reduced to a minority and the present team will get one more term