New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter XIX - Privacy Of Consumer Financial and health Information
Part 420 - Privacy Of Consumer Financial And Health Information
Privacy and Opt Out Notices for Financial Information
Section 420.8 - Revised privacy notices
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 420.8
Current through Register Vol. 46, No. 39, September 25, 2024
(a) General rule. Except as otherwise authorized in this Part, a licensee shall not, directly or through any 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 section 420.4 of this Part, unless:
(1) the licensee has provided to the consumer
a clear and conspicuous revised notice that accurately describes the licensee's
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) Examples.
(1) Except as otherwise permitted by sections
420.13, 420.14 and
420.15 of this Part, the licensee
shall provide a revised notice before the licensee:
(i) discloses a new category of nonpublic
personal financial information to any nonaffiliated third party;
(ii) discloses nonpublic personal financial
information to a new category of nonaffiliated third party; or
(iii) discloses 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 the
licensee's prior notice.
(c) Delivery. When the licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to section 420.9 of this Part.
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