A. General rule. Except as otherwise authorized in this regulation, a licensee shall 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 Section 5, unless all of the following occur:
- (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.
- (4) The consumer does not opt out.
B. Examples.
(1) Except as otherwise permitted by Sections 14, 15 and 16, a licensee shall provide a revised notice before it discloses any of the following:
- (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.
- (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. Delivery. When a licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to Section 10.
Author: Reyn Norman, Associate Counsel
Statutory Authority: Code of Ala. 1975, §27-2-17; §20, Act 2001-702; 15 U.S.C. §§6801-6827.
History: New Rule: June 20, 2001; effective July 1, 2001 Amended: September 12, 2001; effective October 1, 2001. Filed with LRS September 14, 2001. Rule is not subject to the Alabama Administrative Procedure Act.