MINUTES OF MEETING OF BOARD OF DIRECTORS OF AIR AMERICA, INC. 16 MAY, 1967

• Document Type: FOIA
• Collection: FOIA Collection
• Document Number (FOIA) /ESDN (CREST): 05261340
• Release Decision: RIFPUB
• Original Classification: U
• Document Page Count: 2
• Document Creation Date: March 9, 2023
• Document Release Date: July 15, 2021
• Case Number: F-2017-01685
• Publication Date: May 16, 1967

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MINUTES OF MEETING
OF
BOARD OF DIRECTORS
OF
AIR AMERICA, INC.
16 May, 1967
A meeting of the Board of Directors of Air America, Inc. was
held at the offices of the Company, 815 Connecticut Avenue, N. W.,
Washington, D.C., on 16 May, 1967.
PRESENT: Admiral Stump, General Cabe11, Messrs. Ames,
Doole, Goelet, Richardson and Walker.
ABSENT: Messrs. Grundy and Read.
Chairman Stump called the meeting to order and announced that
a quorum was present. Vice Chairman Doole presented the Certificate
of Mailing of Notice and stated that a formal notice of the meeting had
been directed to all Directors in accordance with the By-Laws a the
Corporation. The Vice Chairman was directed to file the Certificate of
� Mailing of Notice with the minutes of the meeting.
The Minutes of the Meeting of the Board of Directors of 18
April, 1967, were approved.
The Minutes of the Meetings of the Executive Committees of April
25, 1967 and May 9, 1967 were summarized for and noted by the Board.
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Statistical reports of Air America, Inc.
and Associate( Companies
for the month of March, 1967 and preliminary financial reports for the
month of March and the fiscal year ended March 31, 1967 were reviewed
for the Board.
The Board then discussed the March 23, 1967 Volpar Twin Beech
N91284 accident in which eight prominent U.S. educators were killed and
reviewed the potential liability in connection with that accident. It was
reported that the widow and three children of Dr. Arthur D. Pickett, one
of the passengers killed in the accident, have filed suit against the Company
in Illinois for $900,000. The Company's liability insurance coverage is
limited to $75,000 per passenger. In view of the large recoveries which
have been reported for passenger deaths in aircraft accidents the Board
of Directors requested that the Company review the desirability of
increasing the limits of its liability insurance coverage and report back
to the Board at the next meeting.
There being no further business to come before the meeting, on
motion duly made and seconded, it was adjourned.
Respectfully submitted,
James H. Bastian
Secretary for the Meeting
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