Problem: The proposed amendment in the articles of incorporation of XYZ Golf Incorporated, a stock corporation that operates a golf facility, as approved by majority of its board of directors and stockholders representing one hundred percent of the outstanding capital stock is as follows: "The stockholders shall not be entitled to receive dividends. In lieu of the dividends, the stockholders shall be entitled to use the golf facilities and amenities free of charges and/or fees." Decide whether the Securities and Exchange Commission (SEC) has ground to reject the the proposed amendments?