760 IAC 1-67-7 Revised privacy notices

Sec. 7. (a) Except as otherwise authorized in this rule, a licensee shall not, directly or through an 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 3 of this rule unless the: (1) licensee has provided to the consumer a clear and conspicuous revised notice that accurately describes its policies and practices; (2) licensee has provided to the consumer a new opt out notice; (3) 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) consumer does not opt out. (b) Except as otherwise permitted by sections 12 through 14 of this rule, a licensee shall provide a revised notice before it does any of the following: (1) Discloses a new category of nonpublic personal financial information to any nonaffiliated third party. (2) Discloses nonpublic personal financial information to a new category of nonaffiliated third party. (3) 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. (c) 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 its prior notice. (d) When a licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to section 8 of this rule.