Current through Register Vol. XLI, No. 38, September 20, 2024
10.1. If a licensee
receives nonpublic personal financial information from a nonaffiliated financial
institution under an exception in sections 13 or 14 of this rule, the licensee's
disclosure and use of that information is limited as follows:
a. The licensee may disclose the information to
the affiliates of the financial institution from which the licensee received the
information;
b. The licensee may
disclose the information to its affiliates, but the licensee's affiliates may, in
turn, disclose and use the information only to the extent that the licensee may
disclose and use the information; and
c. The licensee may disclose and use the
information pursuant to an exception in sections 13 or 14 of this rule, in the
ordinary course of business to carry out the activity covered by the exception under
which the licensee received the information.
10.2. If a licensee receives information from a
nonaffiliated financial institution for claims settlement purposes, the licensee may
disclose the information for fraud prevention or in response to a properly
authorized subpoena. The licensee may not disclose that information to a third party
for marketing purposes or use that information for its own marketing
purposes.
10.3. If a licensee receives
nonpublic personal financial information from a nonaffiliated financial institution
other than under an exception in sections 13 or 14 of this rule, the licensee may
disclose the information only:
a. To the
affiliates of the financial institution from which the licensee received the
information;
b. To its affiliates, but
its affiliates may, in turn, disclose the information only to the extent that the
licensee may disclose the information; and
c. To any other person, if the disclosure would be
lawful if made directly to that person by the financial institution from which the
licensee received the information.
10.4. If a licensee obtains a customer list from a
nonaffiliated financial institution outside of the exceptions in sections 13 or 14:
a. The licensee may use that list for its own
purposes; and
b. The licensee may
disclose that list to another nonaffiliated third party only if the financial
institution from which the licensee purchased the list could have lawfully disclosed
the list to that third party. That is, the licensee may disclose the list in
accordance with the privacy policy of the financial institution from which the
licensee received the list, as limited by the opt-out direction of each consumer
whose nonpublic personal financial information the licensee intends to disclose, and
the licensee may disclose the list in accordance with an exception in sections 13 or
14, such as to the licensee's attorneys or accountants.
10.5. If a licensee discloses nonpublic personal
financial information to a nonaffiliated third party under an exception in sections
13 or 14 of this rule, the third party may disclose and use that information only as
follows:
a. The third party may disclose the
information to the licensee's affiliates;
b. The third party may disclose the information to
its affiliates, but its affiliates may, in turn, disclose and use the information
only to the extent that the third party may disclose and use the information; and
c. The third party may disclose and use
the information pursuant to an exception in sections 13 or 14 in the ordinary course
of business to carry out the activity covered by the exception under which it
received the information.
10.6. If a licensee discloses nonpublic personal
financial information to a nonaffiliated third party other than under an exception
in sections 13 or 14 of this rule, the third party may disclose the information
only:
a. To the licensee's affiliates;
b. To the third party's affiliates, but the third
party's affiliates, in turn, may disclose the information only to the extent the
third party can disclose the information; and
c. To any other person, if the disclosure would be
lawful if the licensee made it directly to that person.
