Idaho Admin. Code r. 18.01.01.400

Current through September 2, 2024

Section 18.01.01.400 - LIMITS ON DISCLOSURE OF NONPUBLIC PERSONAL FINANCIAL INFORMATION TO NONAFFILIATED THIRD PARTIES

01.Conditions for Disclosure.

a. Except as authorized in this rule, a licensee will not, directly or through any affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party unless:

i. The licensee has provided to the consumer an initial notice as prescribed under Section 100;

ii. The licensee has provided to the consumer an opt out notice as prescribed in Sections 250 and 251;

iii. The licensee has given the consumer a reasonable opportunity to opt out of the disclosure before it discloses the information to the nonaffiliated third party; and

iv. The consumer does not opt out.

b. If a consumer opts out, the licensee cannot disclose nonpublic personal financial information about that consumer to a nonaffiliated third party, other than as permitted by Sections 450, 451, and 452.

c. Examples of a reasonable opportunity to opt out. A licensee provides a consumer with a reasonable opportunity to opt out if the licensee mails the notices prescribed in Subsection 400.01 of this rule to the consumer and allows the consumer to opt out by mailing a form, calling a toll-free telephone number, or any other reasonable means in thirty (30) days from the date of mailing.

02.Application of Opt Out to All Consumers and All Nonpublic Personal Financial Information.

a. A licensee will comply with Section 400, regardless of whether the licensee and the consumer have established a customer relationship.

b. Unless a licensee complies with Section 400, the licensee will not disclose any nonpublic personal financial information about a consumer that the licensee has collected, regardless of whether the licensee collected it before or after receiving the direction to opt out from the consumer.

03.Partial Opt Out. A licensee may allow a consumer to select certain nonpublic personal financial information or certain nonaffiliated third parties with respect to which the consumer wishes to opt out.

Idaho Admin. Code r. 18.01.01.400

Effective March 31, 2022