Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 99 - Regulation 76-Privacy of Consumer
Subchapter D - Exceptions to Limits on Disclosures of Financial Information
Section XIII-9933 - Other Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information
Universal Citation: LA Admin Code XIII-9933
Current through Register Vol. 50, No. 9, September 20, 2024
A. Exceptions to Opt Out Requirements. The requirements for initial notice to consumers in §9911A.2, the opt out in §9917 and 9923, and service providers and joint marketing in §9929 do not apply when a licensee discloses nonpublic personal financial information:
1. with the consent or at the direction of
the consumer, provided that the consumer has not revoked the consent or
direction;
2.
a. to protect the confidentiality or security
of a licensee's records pertaining to the consumer, service, product or
transaction;
b. to protect against
or prevent actual or potential fraud or unauthorized transactions;
c. for required institutional risk control or
for resolving consumer disputes or inquiries;
d. to persons holding a legal or beneficial
interest relating to the consumer; or
e. to persons acting in a fiduciary or
representative capacity on behalf of the consumer;
3. to provide information to an insurance
rate advisory organizations for the purpose of gathering statistical rate
making information, guaranty funds or agencies that are rating a licensee,
persons that are assessing the licensee's compliance with industry standards,
and the licensee's attorneys, accountants and auditors;
4. to the extent specifically permitted or
required under other provisions of law and in accordance with the federal Right
to Financial Privacy Act of 1978 (12 U.S.C.
3401 et seq.), to law enforcement agencies
(including the Federal Reserve Board, Office of the Comptroller of the
Currency, Federal Deposit Insurance Corporation, Office of Thrift Supervision,
National Credit Union Administration, the Securities and Exchange Commission,
the Secretary of the Treasury, with respect to 31 U.S.C. Chapter 53, Subchapter
II (Records and Reports on Monetary Instruments and Transactions) and 12 U.S.C.
Chapter 21 (Financial Record keeping), the Commissioner of Insurance, and the
Federal Trade Commission), self-regulatory organizations or for an
investigation on a matter related to public safety;
5.
a. to a
consumer reporting agency in accordance with the federal Fair Credit Reporting
Act (15 U.S.C.
1681 et seq.); or
b. from a consumer report reported by a
consumer reporting agency;
6. actual sale, merger, transfer or exchange
of all or a portion of a business or operating unit if the disclosure of
nonpublic personal financial information concerns solely consumers of the
business or unit;
7.
a. to comply with federal, state or local
laws, rules and other applicable legal requirements;
b. to comply with a properly authorized
civil, criminal or regulatory investigation, or subpoena or summons by federal,
state or local authorities;
c. to
respond to judicial process or government regulatory authorities having
jurisdiction over a licensee for examination, compliance or other purposes as
authorized by law; or
8.
for purposes related to the replacement of a group benefit plan, a group health
plan, a group welfare plan;
9. for
purposes related to:
a. an order of
rehabilitation or liquidation pursuant to
R.S.
22:731 et seq.;
b. any other provision of law which
authorizes the Commissioner of Insurance to take over, rehabilitate, liquidate,
or wind up the affairs of a licensee.
B. Example of Revocation of Consent. A consumer may revoke consent by subsequently exercising the right to opt out of future disclosures of nonpublic personal information as permitted under §9917. F
AUTHORITY NOTE: Promulgated in accordance with R.S. 22:2, 22:3, 22:3052, 22:305422:731, et seq. and Gramm-Leach-Bliley Act, Public Law 106-102 Nov. 12, 1999).
Disclaimer: These regulations may not be the most recent version. Louisiana 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.
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