Ala. Admin. Code r. 482-1-122-.09

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-122-.09 - Revised Privacy Notices

A. General rule. Except as otherwise authorized in this regulation, a licensee shall not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party other than as described in the initial notice that the licensee provided to that consumer under Section 5, unless all of the following occur:

(1) The licensee has provided to the consumer a clear and conspicuous revised notice that accurately describes its policies and practices.

(2) The licensee has provided to the consumer a new opt out notice.

(3) The licensee has given the consumer a reasonable opportunity, before the licensee discloses the information to the nonaffiliated third party, to opt out of the disclosure.

(4) The consumer does not opt out.

B. Examples.

(1) Except as otherwise permitted by Sections 14, 15 and 16, a licensee shall provide a revised notice before it discloses any of the following:

(a) A new category of nonpublic personal financial information to any nonaffiliated third party.

(b) Nonpublic personal financial information to a new category of nonaffiliated third party.

(c) Nonpublic personal financial information about a former customer to a nonaffiliated third party, if that former customer has not had the opportunity to exercise an opt out right regarding that disclosure.

(2) A revised notice is not required if the licensee discloses nonpublic personal financial information to a new nonaffiliated third party that the licensee adequately described in its prior notice.

C. Delivery. When a licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to Section 10.

Author: Reyn Norman, Associate Counsel

Statutory Authority: Code of Ala. 1975, § 27-2-17; §20, Act 2001-702; 15 U.S.C. §§ 6801 - 6827.

History: New Rule: June 20, 2001; effective July 1, 2001 Amended: September 12, 2001; effective October 1, 2001. Filed with LRS September 14, 2001. Rule is not subject to the Alabama Administrative Procedure Act.

Ala. Admin. Code r. 482-1-122-.09