The electrical properties of GH<sub>3</sub> cells, a transformed line from the rat pituitary, were studied with a current-clamp technique in the presence of triiodothyronine (T<sub>3</sub>) and reverse triiodothyronine (rT<sub>3</sub>) and compared with the known effects of T<sub>3</sub>. rT<sub>3</sub> had an effect only in a concentration of 1 µ M; action potentials were suppressed, and changes in the slope conductance were similar to those seen in response to T<sub>3</sub>. Membrane resistance R<sub>I</sub> decreased, and the resting membrane potential V<sub>M</sub> hyperpolarized. The action of rT<sub>3</sub> is a 1,000 times less potent than that of T<sub>3</sub> and is unlikely to have a physiological significance. When a cell was beforehand superfused with rT<sub>3</sub> (10 n M), the effect of T<sub>3</sub> was prevented even in a concentration of 10 n M. The specificity of T<sub>3</sub>, the prevention of the effect of T<sub>3</sub> by rT<sub>3</sub>, and the small dose needed suggest a binding site for T<sub>3</sub>. The short latency of its action implies an extranuclear binding site, probably in or near the plasma membrane of the GH<sub>3</sub> cell.