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House Bill 154 authorizes the charter of a corporation to provide that the board of directors of the corporation , by a majority vote of the entire board and without stockholder approval , may amend the corporation 's charter to increase or decrease the aggregate number of shares of stock or the number of shares that the corporation has authority to issue . The board 's plan will now be submitted to the company 's stockholders for approval . Further restrictions could be a major turnoff for the industry because stockholders may look at money spent on donations instead of marketing as a waste , Dr. Gallis said . " If the return on investment was enough to satisfy their stockholders , they would have kept it open . for example , common stock usually carries the right to receive dividends - is the stockholder a beneficiary then ? This additional block , which is held by employee stockholders outside their retirement plan , amounts to roughly 40 million shares . The bill establishes a definition of a " stockholder rights plan " and codifies the authority of the board of directors of a corporation and the board of trustees of a real estate investment trust ( REIT ) to adopt a stockholder rights plan . You cannot deduct transportation and other expenses you pay to attend stockholders ' meetings of companies in which you own stock but have no other interest . The bill also allows a stockholder to authorize another person to act as proxy for the stockholder by transmitting the authorization by electronic mail or any other electronic or telephonic means . " Where the sole stockholder of a corporation leases an aircraft to that company and the company registers , operates , maintains , and services the plane , furnishes the pilot , and provides transportation to the stockholder and his or her employees , business associates , and relatives , the corporation is furnishing a transportation service to the stockholder and other persons .