R590-206-9. Revised Privacy Notices

(1) Except as otherwise permitted, a licensee may not, directly or through an affiliate, disclose nonpublic personal financial information about a consumer to a nonaffiliated third party other than as described in the initial notice under Section R590-206-5, unless: (a) the licensee provides the consumer a clear and conspicuous revised notice that accurately describes its policies and practices; (b) the licensee provides the consumer a new opt out notice; (c) the licensee gives the consumer a reasonable opportunity to opt out of the disclosure before the licensee discloses the information to the nonaffiliated third party; and (d) the consumer does not opt out. (2)(a) Except as otherwise permitted by Sections R590-206-15 through R590-206-17, a licensee shall provide a revised notice before it discloses: (i) a new category of nonpublic personal financial information to any nonaffiliated third party; (ii) nonpublic personal financial information to a new category of nonaffiliated third party; or (iii) 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. (b) 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. (3) When a licensee is required to deliver a revised privacy notice, the licensee shall deliver it according to Section R590-206-11.