30-14-2803. Applicability. The provisions of this part apply to persons that conduct business in this state or persons that produce products or services that are targeted to residents of this state and:

(1) control or process the personal data of not less than 50,000 consumers, excluding personal data controlled or processed solely for the purpose of completing a payment transaction; or

(2) control or process the personal data of not less than 25,000 consumers and derive more than 25% of gross revenue from the sale of personal data.