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The law has since been relaxed, to allow directors to take out personal loans from their companies.
Mr Huber told investors last week he is expecting to offload the company's casinos to allow directors to concentrate on the company's real estate projects.
Its popularity with film-makers stems from its ability to allow directors and producers to defer making creative decisions until post-production.
"Deciding to pay CEOs in cash would allow directors to direct, while it would remove the myopic focus on stock price".
Glen Cooper, ECS chairman, said: 'Unfortunately the articles of association of Vodafone allow directors to effectively ignore the wishes of shareholders.
In the late 1980s, for example, more than half of America's state legislatures adopted "other constituency" statutes that allow directors to consider the interests of all their stakeholders, not just shareholders.
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She points out that she once dipped into Film4's annual £10m budget to allow director Shane Meadows to jet off on an overseas fact-finding mission.
Better to allow director Bennett Miller to tell this stranger-than-fiction story with the same engaging intelligence that characterised his previous works, Capote and Moneyball, both of which drew career-best performances from their casts.
S. S. Vasan, who held the rights to the book, initially refused to allow director Nagarajan to make the film because Vasan wanted to make a film adaptation himself.
It has allowed directors and designers to experiment with space.
Even with digital equipment that now allows directors to work solo, partnerships still abound.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com