Idaho Administrative Code
Title IDAPA 18 - Insurance, Department of
Rule 18.01.01 - RULE TO IMPLEMENT THE PRIVACY OF CONSUMER FINANCIAL INFORMATION
Section 18.01.01.250 - FORM OF OPT OUT NOTICE TO CONSUMERS
Universal Citation: ID Admin Code 18.01.01.250
Current through August 31, 2023
01. Opt Out Notice Form. If a licensee is prescribed to provide an opt out notice under Subsection 400.01, it will provide a clear and conspicuous notice to each of its consumers that accurately explains the right to opt out under Section 400. The notice will state: (3-31-22)
a. The licensee discloses or
reserves the right to disclose nonpublic personal financial information about
its consumer to a nonaffiliated third party; (3-31-22)
b. The consumer has the right to opt out of
that disclosure; and (3-31-22)
c. A
reasonable means by which the consumer may exercise the opt out right.
(3-31-22)
02. Adequate Opt Out Notice. A licensee provides adequate notice that the consumer can opt out of the disclosure of nonpublic personal financial information to a nonaffiliated third party if the licensee: (3-31-22)
a. Identifies all of the categories of
nonpublic personal financial information that it discloses or reserves the
right to disclose, and all of the categories of nonaffiliated third parties to
which the licensee discloses the information, and states that the consumer can
opt out of the disclosure of that information; and (3-31-22)
b. Identifies the insurance products or
services that the consumer obtains from the licensee to which the opt out
direction would apply. (3-31-22)
03. Reasonable Means to Exercise an Opt Out Right. A licensee provides a reasonable means to exercise an opt out right if it: (3-31-22)
a. Designates check-off
boxes in a prominent position on the relevant forms with the opt out notice;
(3-31-22)
b. Includes a reply form
together with the opt out notice; (3-31-22)
c. Provides an electronic means to opt out,
if the consumer agrees to the electronic delivery of information; or
(3-31-22)
d. Provides a toll-free
telephone number that consumers may call to opt out.
(3-31-22)
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