Okla. Admin. Code § 365:35-1-14

Current through Vol. 42, No. 8, January 2, 2025

Section 365:35-1-14 - 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 365:35-1-15, unless:

(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; and

(4) The consumer does not opt out.

(b)Examples.

(1) Except as otherwise permitted by Sections 365:35-1-30, 31 and 32, a licensee shall provide a revised notice before it:

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

(B) Discloses nonpublic personal financial information to a new category of nonaffiliated third party; or

(C) Discloses 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 365:35-1-15.

Okla. Admin. Code § 365:35-1-14

Added at 18 Ok Reg 3646, eff 7-20-01 (emergency); Added at 19 Ok Reg 1326, eff 7-14-02