Section 45-14-01-14 - Exception to authorization requirements for disclosure of nonpublic personal financial information for service providers and joint marketing1.General rule.a. The notice and authorization requirements in sections 45-14-01 -08 and 45-14-01-11 do not apply when a licensee provides nonpublic personal financial information to a nonaffiliated third party to perform services for the licensee or functions on the licensee's behalf, if the licensee provides the initial notice in accordance with section 45-14-01-05 and enters into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the licensee disclosed the information, including use under an exception in section 45-14-01 -15 or 45-14-01 -16 in the ordinary course of business to carry out those purposes. b. Example. If a licensee discloses nonpublic personal financial information under this section to a financial institution with which the licensee performs joint marketing, the licensee's contractual agreement with that institution meets the requirements of subdivision a if it prohibits the institution from disclosing or using the nonpublic personal financial information except as necessary to carry out the joint marketing or under an exception in section 45-14-01-15 or 45-14-01-16 in the ordinary course of business to carry out that joint marketing. 2.Service may include joint marketing. The services a nonaffiliated third party performs for a licensee under subsection 1 may include marketing of the licensee's own products or services or marketing of financial products or services offered pursuant to joint agreements between the licensee and one or more financial institutions. 3.Definition of joint agreement. For purposes of this section, "joint agreement" means a written contract pursuant to which a licensee and one or more financial institutions jointly offer, endorse, or sponsor a financial product or service. N.D. Admin Code 45-14-01-14
Effective December 1, 2001; amended effective November 1, 2004.General Authority: NDCC 28-32-02
Law Implemented: NDCC 26.1-02-27