Well, I thought this might happen. I think I know the problem and I considered it when I sent in the demand. I’ll try it again with a revision or two and see if I’m right.
I keep thinking how much easier the election will go next year with all this practice. I wonder if the board thinks about it. Is their goal here what is best for the bank or what is best for the board members who are up for election? See “List demand” on the menu at right to see original demand/request for a stockholder list and tell me how the disclosure of that list would be detrimental to the stockholders, i.e. the bank.
Is this the definitive answer?
CHAPTER 1. GENERAL CORPORATION LAW
Subchapter VII. Meetings, Elections, Voting and Notice
§ 212. Voting rights of stockholders; proxies; limitations. Cick Here for More
Were they thinking ahead when this section was put in place?
AMENDED AND RESTATED
CERTIFICATE OF INCORPORATION
PRINCETON NATIONAL BANCORP, INC.
C. REMOVAL. Any director or the entire Board of Directors may be removed from office at any time, but only for cause and by the affirmative vote of the holders of at least a majority of the outstanding common stock.