(a) A business or a governmental agency is not required to comply with AS 45.48.500 - 45.48.530 if federal law requires that the business or governmental agency act in a way that does not comply with AS 45.48.500 - 45.48.530.
(b) A business is not required to comply with AS 45.48.500 - 45.48.530 if
(1) the business is subject to and in compliance with the Gramm-Leach-Bliley Financial Modernization Act; or
(2) the manner of the disposal of the records of the business is subject to 15 U.S.C. 1681w (Fair Credit Reporting Act) and the business is complying with 15 U.S.C. 1681w.
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