Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 16 - MISCELLANEOUS
Chapter 31.16.08 - Privacy of Consumer Financial and Health Information
Section 31.16.08.09 - Revised Privacy Notices for Financial Information
Universal Citation: MD Code Reg 31.16.08.09
Current through Register Vol. 51, No. 19, September 20, 2024
A. Except as otherwise authorized in this chapter, a licensee may not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party other than as described in the initial notice that the licensee provided to that consumer under Regulation .05 of this chapter, unless:
(1) The licensee has provided to the consumer a clear and conspicuous revised notice that accurately describes its policies and practices;
(2) The licensee has provided to the consumer a new opt out notice;
(3) The licensee has given the consumer a reasonable opportunity, before the licensee discloses the information to the nonaffiliated third party, to opt out of the disclosure; and
(4) The consumer does not opt out.
B. Revised Notice.
(1) Except as otherwise permitted by Regulations .14, .15, and .16 of this chapter, a licensee shall provide a revised notice before it discloses:
(a) A new category of nonpublic personal financial information to any nonaffiliated third party;
(b) Nonpublic personal financial information to a new category of nonaffiliated third party; or
(c) Nonpublic personal financial information about a former customer to a nonaffiliated third party, if that former customer has not had the opportunity to exercise an opt out right regarding that disclosure.
(2) A revised notice is not required if the licensee discloses nonpublic personal financial information to a new nonaffiliated third party that the licensee adequately described in its prior notice.
C. A licensee required to deliver a revised privacy notice under this regulation shall deliver it in accordance with Regulation .10 of this chapter.
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