Telecommunications cooperatives organized pursuant to chapters 47-15 to 47-20 , inclusive, municipal telephone systems operated pursuant to chapter 9-41 , and independent telephone companies serving less than fifty thousand local exchange subscribers are not subject to chapter 49-11 , §§ 49-31-1.1 to 49-31-1.4 , inclusive, 49-31-3.1 to 49-31-4.1 , inclusive, 49-31-4.3 , 49-31-5 , and 49-31-6 , 49-31-12 to 49-31-12.5 , inclusive, and 49-31-44 to 49-31-46 , inclusive. However, any cooperative, municipality, or independent telecommunications company may elect to have its rates regulated by the commission and be subject to commission regulation for its emerging and noncompetitive telecommunications services. The election to be regulated shall be made by filing with the commission a certified copy of the resolution of the board of directors or the municipal governing body. Commission regulation shall become effective thirty days after receipt of the resolution by the commission.
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