International Satellite Communications Act

International Satellite Communications Act - Provides that the President shall aid in the planning and development of additional communications satellite systems which are developed pursuant to any agreement, understanding, or other arrangement between the United States and foreign countries; and in conjunction therewith, provide for continuous review of all phases of the development and operation of such systems, coordinate the activities of governmental agencies with responsibilities in the field of telecommunication, and with respect to any communications common carrier or other entity which participates in the establishment, ownership, or operation of such systems.

Eliminates the authority of the Federal Communications Commission to authorize the Communications Satellite Corporation to issue capital stock shares or to borrow moneys or assume other obligations.

Deletes the requirement that the Communications Satellite Corporation shall be subject to the District of Columbia Business Corporation Act and makes it subject to the laws governing corporations in the jurisdiction within the United States in which it is incorporated.

Revises the provisions of the Communications Satellite Act with regard to the number and manner of election of the board of directors of the corporation. Requires that all board members be citizens of the United States.

Provides that any record holder of stock, regardless of amount of holdings, shall have the right to examine the corporations records.

States that nothing in this Act shall be deemed to vest in the corporation the exclusive right to establish, own or operate communications satellite systems or associated equipment and facilities separate from those used in conjunction with the Global Communications Satellite nor to preclude the corporation from establishing, owning, or operating such facilities.