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 26.650 - Limitation on redisclosure and reuse of nonpublic personal financial information

Universal Citation: 3 AK Admin Code 26.650

Current through February 24, 2025

(a) If a licensee receives, under an exception in 3 AAC 26.665 or 3 AAC 26.670, nonpublic personal financial information from a financial institution that is not an affiliate, the licensee may only disclose or use the information by

(1) disclosing the information to the affiliates of the nonaffiliated third party from which the licensee received the information;

(2) disclosing the information to the licensee's affiliates only if the affiliates agree to disclose and use the information only to the extent that the licensee may disclose and use the information; or

(3) disclosing and using the information under an exception in 3 AAC 26.665 or 3 AAC 26.670 in the ordinary course of business to carry out the activity for which the licensee received the information.

(b) If a licensee receives, other than under an exception in 3 AAC 26.665 or 3 AAC 26.670, nonpublic personal financial information from a financial institution that is not an affiliate, the licensee may disclose the information only

(1) to an affiliate of the nonaffiliated financial institution;

(2) to an affiliate of the licensee if the affiliate agrees to disclose the information only to the extent that the licensee is allowed by law to disclose the information; or

(3) to any other person, if the disclosure is allowed by law when made directly to the person by the nonaffiliated financial institution.

(c) If a licensee discloses nonpublic personal financial information to a nonaffiliated third party under an exception in 3 AAC 26.665 or 3 AAC 26.670, the nonaffiliated third party may disclose and use the information only by

(1) disclosing the information to the licensee's affiliates;

(2) disclosing the information to the nonaffiliated third party's affiliates but only if those affiliates agree to disclose and use the information only to the extent that the nonaffiliated third party may disclose and use the information; and

(3) using the information under an exception in 3 AAC 26.665 or 3 AAC 26.670 in the ordinary course of business to carry out the purpose for which the nonaffiliated third party received the information.

(d) If a licensee discloses nonpublic personal financial information to a nonaffiliated third party other than under an exception in 3 AAC 26.665 or 3 AAC 26.670, the nonaffiliated third party may disclose the information only

(1) to an affiliate of the licensee;

(2) to an affiliate of the nonaffiliated third party, if the affiliate agrees to disclose the information only to the extent that the nonaffiliated third party is allowed by law to disclose the information; or

(3) to any other person, if the disclosure is allowed by law when made directly to the person by the nonaffiliated third party.

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 26.650, 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

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