Md. Code Regs. 31.16.08.06 - Annual Privacy Notice for Financial Information to Customers Required
A. In General.
(1) Except as provided in §B of this
regulation, a licensee shall provide a clear and conspicuous notice to
customers that accurately reflects its privacy policies and practices for
nonpublic financial information at least once in each annual notice period
during the continuation of the customer relationship .
(2) A licensee may define the annual notice
period as:
(a) A calendar year; or
(b) Any period of 12 consecutive
months.
(3) The licensee
shall apply the annual notice period as defined under §A(2) of this
regulation to a customer on a consistent basis.
B. Exceptions.
(1) Notwithstanding §A of this
regulation, a licensee is not required to provide an annual privacy notice to a
current customer if the licensee:
(a) Provides
nonpublic personal information to nonaffiliated third parties only in
accordance with Regulations .14-.16 of this chapter; and
(b) Has not changed its policies and
practices with regard to disclosing nonpublic personal information from the
policies and practices that were disclosed in the most recent disclosure sent
to consumers in accordance with §A of this regulation or COMAR
31.16.08.05.
(2) A licensee is not
required to provide an annual notice to a former customer with whom a licensee
no longer has a continuing relationship.
C. A licensee required by this regulation to
deliver an annual privacy notice shall deliver the privacy notice in accordance
with Regulation .10 of this chapter.
Notes
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