Utah Admin. Code R590-206-15 - Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for a Service Provider and Joint Marketing
(1)
(a) The opt out requirements under Sections
R590-206-8 and
R590-206-12 do not apply when a
licensee provides nonpublic personal financial information to a nonaffiliated
third party to perform a service for the licensee or a function on the
licensee's behalf, if the licensee:
(i)
provides the initial notice under Section
R590-206-5; and
(ii) enters into a contractual agreement with
a third party that prohibits the third party from disclosing or using the
information other than to carry out the purpose for which the licensee
disclosed the information, including use under an exception in Section
R590-206-16 or
R590-206-17.
(b) If a licensee discloses nonpublic
personal financial information to a financial institution with which the
licensee performs joint marketing, the licensee's contractual agreement with
the institution meets the requirements of Subsection (1)(a)(ii) if it prohibits
the institution from disclosing or using the nonpublic personal financial
information except as necessary to carry out the joint marketing or an
exception under Section
R590-206-16 or
R590-206-17.
(2) The service a nonaffiliated third party
performs for a licensee under Subsection (1) may include marketing of the
licensee's product or service or marketing of a financial product or service
offered pursuant to a joint agreement between a licensee and a financial
institution.
Notes
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