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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 365. Insurance Department |
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Chapter 35. Privacy |
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Subchapter 1. Privacy of Consumer Financial and Health Information Regulation |
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Part 3. PRIVACY AND OPT OUT NOTICES FOR FINANCIAL INFORMATION |
SECTION 365:35-1-14. Revised privacy notices
Latest version.
- (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 365:35-1-15, 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) Examples.(1) Except as otherwise permitted by Sections 365:35-1-30, 31 and 32, a licensee shall provide a revised notice before it:(A) Discloses a new category of nonpublic personal financial information to any nonaffiliated third party;(B) Discloses nonpublic personal financial information to a new category of nonaffiliated third party; or(C) Discloses 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 365:35-1-15.