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CARD DIVISION

COMSAT BOARD OF DIRECTORS

HEARING - MAR 18

BEFORE TH Copy 1969
U.S. in 19.9. COMMITTEE ON
INTERSTATE AND FOREIGN COMMERCE

HOUSE OF REPRESENTATIVES

NINETY-FIRST CONGRESS

FIRST SESSION

ON

H.R. 4214, S. 17

BILLS TO AMEND THE COMMUNICATIONS SATELLITE ACT
OF 1962 WITH RESPECT TO THE ELECTION OF THE BOARD OF
DIRECTORS OF THE COMMUNICATIONS SATELLITE CORP.

FEBRUARY 18, 1969

Serial No. 91–2

Printed for the use of the
Committee on Interstate and Foreign Commerce

71-6cca

U.S. GOVERNMENT PRINTING OFTICE

WASHINGTON : 1969

26-211

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COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE

HARLEY 0. STAGGERS, West Virginia, Chairman SAMUEL N. FRIEDEL, Maryland

WILLLAM L. SPRINGER, Illinois TORBERT H. MACDONALD, Massachusetts SAMUEL L. DEVINE, Ohio's! JOHN JARMAN, Oklahoma

ANCHER NELSEN, Minnesota JOHN E. MOSS, California

- HASTINGS KEITH, Massachusetts JOHN D. DINGELL, Michigan

GLENN CUNNINGHAM, Nebraska PAUL G. ROGERS, Florida

JAMES T. BROYHILL, North Carolina LIONEL VAN DEERLIN, California

JAMES HARVEY, Michigan J. J. PICKLE, Texas

ALBERT W. WATSON, South Carolina FRED B. ROONEY, Pennsylvania

TIM LEE CARTER, Kentucky JOHN M. MURPHY, New York

| G. ROBERT WATKINS, Pennsylvania DAVID E. SATTERFIELD III, Virginia DONALD G. 'BROTZMAN, Colorado DANIEL J. RONAN, Illinois

CLARENCE J, BROWN, JR., Ohio BROCK ADAMS, Washington

DAN KUYKENDALL, Tennessee RICHARD L. OTTINGER, New York

JOE SKUBITZ, Kansas RAY BLANTON, Tennessee

FLETCHER THOMPSON, Georgia
W. S. (BILL) STUCKEY, JR., Georgia

JAMES F. HASTINGS, New York
PETER N. KYROS, Maine
BOB ECKHARDT, Texas
ROBERT 0. TIERNAN, Rhode Island
RICHARDSON PREYER, North Carolina

W. E. WILLIAMSON, Clerk
KENNETH J. PAINTER, Assistant Clerk

Professional Staff

WILLIAM J. DIXON
ROBERT F. GUTHRIE

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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:

When 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 is less than

The number of members which stockholders

who are communications common carriers

are entitled to elect shall be

And the number

of members which other stockholders are entitled to elect shall be

But not less than

4

45 per centum.
40 per centum
35 per centum
25 per centum
15 per centum
8 per centum.

40 per centum..
35 per centum.
25 per centum.
15 per centum.
8

ONWA

7 8 9 10 11 12

per centum.

NOOOO

(1)

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