Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-72 - Privacy of Consumer Information Regulations
Section 0780-01-72-.06 - ANNUAL PRIVACY NOTICES TO CUSTOMERS REQUIRED
Universal Citation: TN Comp Rules and Regs 0780-01-72-.06
Current through September 24, 2024
(1)
(a) 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 twelve
(12) consecutive months during which that relationship exists. A licensee may
define the twelve (12) consecutive month period, but the licensee shall apply
it to the customer on a consistent basis.
(b) Example. A licensee provides a notice
annually if it defines the twelve (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.
(c) A licensee need not provide
an annual notice when an annual notice has been provided by an affiliated
licensee, so long as the notice clearly identifies all licensees to whom the
notice applies and is accurate with respect to the licensee and the other
institutions.
(2)
(a) 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.
(b)
Examples.
1. 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.
2. 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 twelve (12) consecutive months, other than to provide annual
privacy notices, material required by law or regulation, or promotional
materials.
3. For the purposes of
these regulations, 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.
4. 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.
(2) Delivery. When a licensee is required by this section to deliver an annual privacy notice, the licensee shall deliver it according to rule 0780-1-72-.10.
Authority: Public Acts of 2001; Chapter 107; §1.
Disclaimer: These regulations may not be the most recent version. Tennessee 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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