NAC679B.864. Disclosure of information to nonaffiliated third parties.

     1. Except as otherwise provided in this regulation, a licensee may not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party unless:

     (a) The licensee has provided the consumer with an initial notice pursuant to NAC 679B.842;

     (b) The licensee has provided the consumer with an opt-out notice pursuant to NAC 679B.856;

     (c) 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

     (d) The consumer does not opt out.

     2. A licensee provides a consumer with a reasonable opportunity to opt out if:

     (a) The licensee mails the notices required by this subsection to the consumer and allows the consumer to opt out by:

          (1) Mailing an opt-out form;

          (2) Calling a toll-free telephone number; or

          (3) Any other reasonable means within 30 days from the date the licensee mails the notices.

     (b) The customer opens an on-line account with a licensee and agrees to receive the notices electronically, and the licensee allows the customer to opt out by any reasonable means within 30 days after the date that the customer acknowledges receipt of the notices in conjunction with opening the account.

     (c) For an isolated transaction, including, without limitation, providing the consumer with an insurance quote, the licensee provides the notices required by this section at the time of the transaction and requests that the consumer decide, as a necessary part of the transaction, whether or not to opt out before completing the transaction.

     3. A licensee shall comply with this section, whether or not the licensee and the consumer have established a customer relationship.

     4. Until a licensee complies with this section, a licensee shall not, directly or through any affiliate, disclose any nonpublic personal financial information about a consumer that the licensee has collected, whether or not the licensee collected the information before or after receiving the direction to opt out from the consumer.

     5. A licensee may allow a consumer to select certain nonpublic personal financial information or certain nonaffiliated third parties with respect to which the consumer wishes to opt out.

     6. For the purposes of this section, “opt out” means instructions from a consumer to a licensee to not disclose nonpublic personal financial information about that consumer to a nonaffiliated third party, except as otherwise provided in NAC 679B.870, 679B.872 and 679B.874.

     (Added to NAC by Comm’r of Insurance by R130-01, eff. 12-17-2002)