Md. Code Regs. 31.16.08.09 - Revised Privacy Notices for Financial Information
A. Except as otherwise authorized in this
chapter, a licensee may 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 Regulation .05 of this chapter, unless:
(1) The licensee has provided to the consumer
a clear and conspicuous revised notice that accurately describes its policies
and practices;
(2) The licensee has
provided to the consumer a new opt out notice;
(3) The 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) The consumer does not opt out.
B. Revised Notice.
(1) Except as otherwise permitted by
Regulations .14, .15, and .16 of this chapter, a licensee shall provide a
revised notice before it discloses:
(a) A new
category of nonpublic personal financial information to any nonaffiliated third
party ;
(b) Nonpublic personal
financial information to a new category of nonaffiliated third party ;
or
(c) 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.
(2) 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.
C. A licensee
required to deliver a revised privacy notice under this regulation shall
deliver it in accordance with Regulation .10 of this chapter.
Notes
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