Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 99 - Regulation 76-Privacy of Consumer
Subchapter B - Privacy and Opt-Out Notices for Financial Information
Section XIII-9913 - Annual Privacy Notice to Customers Required
Universal Citation: LA Admin Code XIII-9913
Current through Register Vol. 50, No. 9, September 20, 2024
A.
1.
General Rule. A licensee shall provide a clear and conspicuous notice to
customers that accurately reflects its privacy policies and practices not less
than annually during the continuation of the customer relationship. Annually
means at least once in any period of 12 consecutive months during which that
relationship exists. A licensee may define the 12 consecutive-month period, but
the licensee shall apply it to the customer on a consistent basis.
2. Example. A licensee provides a notice
annually if it defines the 12 consecutive-month period as a calendar year and
provides the annual notice to the customer once in each calendar year following
the calendar year in which the licensee provided the initial notice. For
example, if a customer opens an account on any day of Year 1, the licensee
shall provide an annual notice to that customer by December 31 of Year
2.
B.
1. Termination of Customer Relationship. A
licensee is not required to provide an annual notice to a former customer. A
former customer is an individual with whom a licensee no longer has a
continuing relationship.
2.
Examples
a. A licensee no longer has a
continuing relationship with an individual if the individual no longer is a
current policyholder of an insurance product or no longer obtains insurance
services with or through the licensee.
b. A licensee no longer has a continuing
relationship with an individual if the individual's policy is lapsed, expired
or otherwise inactive or dormant under the licensee's business practices, and
the licensee has not communicated with the customer about the relationship for
a period of 12 consecutive months, other than to provide annual privacy
notices, material required by law or regulation, or promotional
materials.
c. For the purposes of
this regulation, a licensee no longer has a continuing relationship with an
individual if the individual's last known address according to the licensee's
records is deemed invalid. An address of record is deemed invalid if mail sent
to that address by the licensee has been returned by the postal authorities as
undeliverable and if subsequent attempts by the licensee to obtain a current
valid address for the individual have been unsuccessful.
d. A licensee no longer has a continuing
relationship with a customer in the case of providing real estate settlement
services, at the time the customer completes execution of all documents related
to the real estate closing, payment for those services has been received, or
the licensee has completed all of its responsibilities with respect to the
settlement, including filing documents on the public record, whichever is
later.
C. Delivery. When a licensee is required by this Section to deliver an annual privacy notice, the licensee shall deliver it according to §9921
D. Exemption from Annual Privacy Notice. A licensee that:
1. provides nonpublic personal
information to nonaffiliated third parties only in accordance with Emergency
Rule 31, Regulation 76 and
R.S.
22:1591-R.S.
22:1605; and
2. has not changed is policies and practices
with regard to disclosing nonpublic personal information from the policies and
practices that were disclosed in the most recent disclosure sent to consumers
in accordance with this Section, shall not be required to provide an annual
disclosure under this Section until such time as the licensee fails to comply
with any criteria described in Paragraphs 1 and 2 of this
Subsection.
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2, 22:3, 22:1595, 22:1604, Gramm-Leach-Bliley Act, Public Law 106-102, November 12, 1999, and Fixing Americas Surface Transportation Act, Public Law 114-94, December 4, 2015.
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