(a) An incumbent local exchange company may elect to be subject to incentive regulation and to make the corresponding infrastructure commitment under this chapter by notifying the commission in writing of its election.
(b) The notice must include a statement that the company agrees to:
(1) limit until September 1, 2005, any increase in a rate the company charges for basic network services as prescribed by Subchapter C; and
(2) fulfill the infrastructure commitment prescribed by Subchapters F and G.

(c) Except as provided in Subsection (d), an election under this chapter remains in effect until the legislature eliminates the incentive regulation authorized by this chapter and Chapter 59.
(d) The commission may allow an electing company serving fewer than five million access lines to withdraw the company’s election under this chapter:
(1) on application by the company; and
(2) only for good cause.
(e) In this section, “good cause” includes only matters beyond the control of the company.