New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 1 - INSURANCE GENERAL PROVISIONS
Part 3 - PRIVACY OF NONPUBLIC PERSONAL INFORMATION
Section 13.1.3.17 - EXCEPTION TO AUTHORIZATION REQUIREMENT FOR DISCLOSURE OF NONPUBLIC PERSONAL FINANCIAL INFORMATION FOR SERVICE PROVIDERS AND JOINT MARKETING

Universal Citation: 13 NM Admin Code 13.1.3.17

Current through Register Vol. 35, No. 6, March 26, 2024

A. General rule.

(1) The notice and authorization requirements in 13.1.3.11 NMAC and 13.1.3.14 NMAC do not apply when a licensee provides nonpublic personal financial information to a nonaffiliated third party to perform services for the licensee or functions on the licensee's behalf, if the licensee:
(a) Provides the initial notice in accordance with 13.1.3.8 NMAC; and

(b) Enters into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the licensee disclosed the information, including use under an exception in 13.1.3.18 NMAC or 13.1.3.19 NMAC in the ordinary course of business to carry out those purposes.

(2) Example. If a licensee discloses nonpublic personal financial information under this section to a financial institution with which the licensee performs joint marketing, the licensee's contractual agreement with that institution meets the requirements of subparagraph (b) of paragraph (1) of subsection A of 13.1.3.17 NMAC if it prohibits the institution from disclosing or using the nonpublic personal financial information except as necessary to carry out the joint marketing or under an exception in 13.1.3.18 NMAC or 13.1.3.19 NMAC in the ordinary course of business to carry out that joint marketing.

B. Joint marketing. The services a nonaffiliated third party performs for a licensee under subsection A of 13.1.3.17 NMAC may include disclosures of nonpublic personal financial information for the purpose of marketing of the licensee's own products or services or marketing of financial products or services offered pursuant to joint agreements between the licensee and one or more financial institutions. A licensee shall not disclose nonpublic personal health information for joint marketing pursuant to 13.1.3.17 NMAC unless the licensee has first obtained authorization from the consumer whose nonpublic personal health information is sought to be disclosed for joint marketing.

C. Definition of "joint agreement." For purposes of this section, "joint agreement" means a written contract pursuant to which a licensee and one or more financial institutions jointly offer, endorse or sponsor a financial product or service.

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