BILLS TO AMEND THE COMMUNICATIONS SATELLITE ACT 14 Ende, Asher H., Deputy Chief, Common Carrier Bureau, Federal Com- 14 McCormack, James, chairman, Communications Satellite Corp--- O'Connell, James D., Director, Telecommunications Management, Executive Office of the President___. O'Malley, John J., Jr., legal counsel, Office of Telecommunications COMSAT BOARD OF DIRECTORS TUESDAY, FEBRUARY 18, 1969 HOUSE OF REPRESENTATIVES, COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE, Washington, D.C. The committee met at 10 a.m., pursuant to notice, in room 2123, Rayburn House Office Building, Hon. Harley O. Staggers (chairman) presiding. The CHAIRMAN. The committee will come to order. This morning we are holding hearings on two bills which in all substantive respects are identical, H.R. 4214, which I introduced, and S. 17, which was passed by the Senate on January 31. (The bills referred to, and reports thereon, follow:) [H.R. 4214, 91st Cong., first sess.] A BILL To amend the Communications Satellite Act of 1962 with respect to the election of the board of directors of the Communications Satellite Corporation. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subsection (a) of section 303 of the Communications Satellite Act of 1962 (47 U.S.C. 733(a)) is amended to read as follows: "SEC. 303. (a) The corporation shall have a board of directors consisting of fifteen individuals who are citizens of the United States, of whom one shall be elected annually by the board to serve as chairman. Three members of the board shall be appointed by the President of the United States, by and with the advice and consent of the Senate, effective the date on which the other members are elected, and for terms of three years or until their successors have been appointed and qualified, and any member so appointed to fill a vacancy shall be appointed only for the unexpired term of the director whom he succeeds. The remaining twelve members of the board shall be elected annually by the stockholders. Six of such members shall be elected by those stockholders who are not communications common carriers, and the remaining six such members shall be elected by the stockholders who are communications common carriers, except that if the number of shares of the voting capital stock of the corporation issued and outstanding and owned either directly or indirectly by communications common carriers as of the record date for the annual meeting of stockholders is less than 45 per centum of the total number of shares of the voting capital stock of the corporation issued and outstanding, the number of members to be elected at such meeting by each group of stockholders shall be determined in accordance with the following table: |