Telecom-related bills were signed in N.Y. and Cal. N.Y. Gov. Geo...
Telecom-related bills were signed in N.Y. and Cal. N.Y. Gov. George Pataki (R) signed a 911 bill (SB-5289) that allows private nonprofit companies to contract with counties of more than 1 million population to run the public safety answering…
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points of 911 systems. The new law requires that private nonprofit 911 operators be reimbursed by the locality and state in the same way as public-sector operators. In Cal., Gov. Gray Davis (D) signed 2 bills addressing financial responsibility of telecom carriers and other utilities. The first (SB-523) requires companies to notify shareholders and govt. officials when they learn that materially false or misleading financial statements have been made by corporate officers. The 2nd (AB-1031) makes state securities laws consistent with federal law by increasing the criminal penalties for securities fraud and for interfering with a securities fraud investigation.