W. Va. Code R. § 114-57-7

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-57-7 - Revised Privacy Notices

7.1. Except as otherwise authorized in this rule, 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 3, unless:

a. The licensee has provided to the consumer a clear and conspicuous revised notice that accurately describes its policies and practices regarding disclosure of nonpublic personal financial information;

b. The licensee has provided to the consumer a new opt-out notice;

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.

7.2. Except as otherwise permitted by sections 12, 13 and 14, 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.

7.3. 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.

7.4. When a licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to section 8.

W. Va. Code R. § 114-57-7