Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 2 - Division of Insurance
Chapter 26 - Trade Practices
Article 5 - Privacy of Consumer Financial and Health Information
3 AAC 26.610 - Initial privacy notice to consumers

Universal Citation: 3 AK Admin Code 26.610

Current through February 24, 2025

(a) A licensee shall provide a clear and conspicuous notice that accurately reflects the licensee's privacy policies and practices to a

(1) customer not later than when the licensee establishes a customer relationship, except as provided in (d) of this section; and

(2) consumer before the licensee discloses nonpublic personal financial information about the consumer to a nonaffiliated third party, unless the disclosure is authorized under 3 AAC 26.665 and 3 AAC 26.670.

(b) A licensee is not required to provide an initial notice to a consumer under (a) of this section if the

(1) licensee does not disclose nonpublic personal financial information about the consumer to a nonaffiliated third party except as authorized under 3 AAC 26.665 and 3 AAC 26.670 and the licensee does not have a customer relationship with the consumer; or

(2) initial notice is provided under (a) of this section by an affiliate that is a licensee, and the notice
(A) identifies each licensee to whom the notice applies; and

(B) accurately states the privacy policies and practices of each licensee.

(c) If an existing customer seeks to obtain or obtains a new insurance product or service that is to be used primarily for personal, family, or household purposes from a licensee, the licensee meets the requirements of (a) of this section if the

(1) licensee provides a revised policy notice in compliance with 3 AAC 26.630 covering the new insurance product or service; or

(2) most recent notice given to the customer by the licensee is accurate with respect to the new insurance product or service.

(d) A licensee may provide the initial notice under (a)(1) of this section within a reasonable time after the licensee establishes a customer relationship if

(1) establishing the customer relationship is not at the customer's election, including when a licensee acquires or is assigned a customer's policy from another financial institution or residual market mechanism and the customer does not have a choice about the acquisition or assignment; or

(2) providing the notice not later than when the licensee establishes a customer relationship as required under (a)(1) of this section would substantially delay the customer's transaction and the customer agrees to receive the notice at a later time.

In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.162 as AS 21.36.510. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 26.610, so that the citation to former AS 21.36.162 now refers to the renumbered statute, AS 21.36.510.

Authority:AS 21.06.090

AS 21.36.510

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.