The Federal Communications Commission has finally approved the sale
of 406 MHz Personal Locator Beacons (PLBs) in the U.S. Both the U.S. Air Force and the FCC deserve credit for the dubious distinction of holding up PLB approval for the past few years, and the Federal Aviation Administration must also share some of the blame, but this inertia has at last been overcome. Come July 1, 2003, it will be legal to purchase a 406 MHz PLB in the U.S., a
proven lifesaving device that's been available elsewhere in the world for many years.

Here is a link to more info:
http://www.equipped.org/plb_legal.ht