(1) For purposes of this part 2, except as otherwise provided in this title, each provider of basic local exchange service is declared to be affected with a public interest and a public utility subject to the provisions of articles 1 to 7 of this title, so far as applicable, including the regulation of all rates and charges pertaining to local exchange companies; except that, if a provider applies for and receives commission approval of an alternative form of regulation, or if a provider is a rural telecommunications provider subject to simplified regulatory treatment under section 40-15-203.5 or 40-15-503 (2)(d), the commission shall not consider the provider's overall rate of return or overall revenue requirements when determining the just and reasonable rate for a particular product or service. The commission may promulgate rules as necessary to implement this part 2.(2) Basic emergency service is declared to be subject to regulation under this part 2 and subject to potential reclassification under section 40-15-207.Amended by 2014 Ch. 152, § 2, eff. 5/9/2014.L. 87: Entire article R&RE, p. 1480, § 1, effective July 2. L. 94: (2)(h) added, p. 1064, § 2, effective May 4. L.

reclassification under section 40-15-207.Amended by 2014 Ch. 152, § 2, eff. 5/9/2014.L. 87: Entire article R&RE, p. 1480, § 1, effective July 2. L. 94: (2)(h) added, p. 1064, § 2, effective May 4. L. 99: (1), (2)(c), and (2)(f) amended, p. 185, § 3, effective March 31. L. 2000: (1) amended, p. 47, § 4, effective March 10. L. 2014: Entire section amended, (HB 14-1331), ch. 152, p. 523, § 2, effective May 9.This section is similar to former § 40-15-102 as it existed prior to 1987.