S.D. Admin. R. 20:06:45:08

Current through Register Vol. 50, page 147, May 28, 2024

Section 20:06:45:08 - Revised privacy notices

(1) General rule. Except as otherwise authorized in this chapter, a licensee may 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 § 20:06:45:04, unless:

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

(B) The licensee has provided to the consumer a new opt out notice;

(C) 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

(D) The consumer does not opt out.

(2) Examples.

(A) Except as otherwise permitted by §§ 20:06:45:13, 20:06:45:14, and 20:06:45:15, a licensee shall provide a revised notice before it:

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

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

(3) 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.

(B) 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.

(3) Delivery. When a licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to § 20:06:45:09.

S.D. Admin. R. 20:06:45:08

28 SDR 15, effective 7/1/2001.

General Authority: SDCL 58-2-41.

Law Implemented: SDCL 58-2-41.