Exploring the Unknown - NASA's History Office

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THE HISTORY OF SATELLITE COMMUNICATIONS
Directors appointed by each carrier or affiliated group of carriers having an ownership
interest in the Corporation and two additional Directors designated jointly by United
States carriers who are authorized by the Commission to provide communications services
via satellite but who do not acquire an ownership interest in the Corporation. The Board
of Directors shall choose, or elect by majority vote, the principal officers of the
Corporation. Each Director shall have one vote in all matters determined by the Board of
Directors.
(g) Financing of Corporation.
(1) The total authorized capital stock of the Corporation shall be 500 million dollars,
consisting of five thousand shares of the value of $100,000.00 each. Such
stock shall be of one class, shall be nonassessable, and shall be issued only for
cash fully paid. Stock held by owning carriers shall not be transferable, except
with the approval of the Commission, and then only to other communications
common carriers determined by the Commission to be eligible to participate
in the ownership of the Corporation.
(2) The minimum amount of stock which shall be held by an owning carrier shall
be five shares.
POWERS OF CORPORATION
Sec. 403. The Corporation shall have perpetual succession, and shall have power to do any
and all things necessary and proper to carry out the object and purposes of the
Corporation, including, without limitation thereto, the following—
(a) to acquire, hold, own, mortgage, lease, and dispose of real and personal property,
of every class and description and without limitation as to place;
(b) to lease channels to authorized users of the communications satellite system;
(c) to conduct research and development;
(d) to enter into, make and perform contracts and agreements of every kind and
description with any person, firm, association, corporation, municipality, county, state,
body politic, or government or colony or dependency thereof.
(e) to sue and be sued;
(f) to accept unconditional gifts of services, money or property, and legacies and
devises;
(g) to adopt and alter a corporate seal and, subject to prior approval of the
Commission, by-laws not inconsistent with the laws of the United States or of any State;
(h) to establish and maintain offices and facilities for the conduct of the affairs of the
Corporation in the District of Columbia and in the several states and territories of the
United States, and in foreign countries; and
(i) to purchase, hold, sell, and transfer the shares of its own capital stock.
[3] RELATIONSHIP BETWEEN THE CORPORATION AND
THE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION
Sec. 404. (a) The Administration shall be responsible for—
(1) furnishing launch vehicles required for the communications satellite system
on a schedule which will facilitate the economical and efficient development
and operation of the system;
(2) launching the satellites, and furnishing launch-crew and associated services;
(3) consulting with the Corporation on the technical specifications for satellites
and earth terminal station, and on the number and location of such stations;
and
(4) to the greatest extent practicable, coordinating its research and development