Effect on State law

(a) In general A State, or political subdivision of a State, may not maintain, enforce, prescribe, or continue in effect any law, rule, regulation, requirement, standard, or other provision having the force and effect of law of the State, or political subdivision of the State, that— (1) prohibits a covered company from engaging in any conduct prohibited by section 2; or (2) requires a covered company to take any action required by section 2. (b) Rule of construction This section may not be construed to— (1) preempt any law of a State or political subdivision of a State relating to contracts, torts, or unfair competition; or (2) preempt any law of a State or political subdivision of a State to the extent that such law relates to an act of fraud, unauthorized access to personal information, or notification of unauthorized access to personal information.