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-.14 - EXCEPTION TO OPT OUT REQUIREMENTS FOR DISCLOSURE OF NONPUBLIC PERSONAL INFORMATION FOR SERVICE PROVIDERS AND JOINT MARKETING

Universal Citation: TN Comp Rules and Regs 0780-01-72-.14

Current through September 24, 2024

(1) General rule.

(a) The opt out requirements in Sections 0780-1-72-.08 and 0780-1-72-.11 do not apply when a licensee provides nonpublic personal information to a nonaffiliated third party to perform services for the licensee or functions on the licensee's behalf, if the licensee:
1. Provides the initial notice in accordance with Section 0780-1-72-.05; and,

2. 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 Sections 0780-1-72-.15 or 0780-1-72-.16 in the ordinary course of business to carry out those purposes.

(b) Example. If a licensee discloses nonpublic personal 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 Paragraph (a)2. of this subsection if it prohibits the institution from disclosing or using the nonpublic personal information except as necessary to carry out the joint marketing or under an exception in Sections 0780-1-72-.15 or 0780-1-72-.16 in the ordinary course of business to carry out that joint marketing.

(2) Service may include joint marketing. The services a nonaffiliated third party performs for a licensee under Subsection A of this section may include 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.

(3) 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.

Authority: Public Acts of 2001; Chapter 107; §1.

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