Purpose

Purpose The purpose of this Regulation is to extend the date by which Licensees regulated by the Mississippi Department of Insurance must comply with the provisions of Title Vof GLBA, which became effective November 13, 2000. GLBA, inter alia, requires Licensees to establish privacy policies, develop systems for implementing those policies and protecting personal information of consumers and customers, and provide notices to all customers prior to either the effective date or a later compliance date established by rule by the regulator. Mississippi Department of Insurance Emergency Regulation No. 2000-7, adopted on September 19, 2000, and further adopted as Final Regulation No. 2000-6 on November 15, 2000, required Licensees to comply with Title V of GLBA by July 1, 2001. It is the purpose of this Emergency Regulation No. 2001-2 to extend said compliance date to August 1, 2001, for Licensees regulated by the Mississippi Department of Insurance.