Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-122 - PRIVACY OF NONPUBLIC PERSONAL FINANCIAL INFORMATION › Article IV - EXCEPTIONS TO LIMITS ON DISCLOSURES › Section 482-1-122-.16 - Other Exceptions To Notice And Opt Out Requirements For Disclosure Of Nonpublic Personal Financial Information

Current through Register Vol. 42, No. 9, June 28, 2024
A. Exceptions to opt out requirements. The
				requirements for initial notice to consumers in Section 5A(2), the opt out in
				Sections 8 and 11, and service providers and joint marketing in Section 14 do
				not apply when a licensee discloses nonpublic personal financial information as
				indicated in any of the following:
(1) With
				the consent or at the direction of the consumer, provided that the consumer has
				not revoked the consent or direction.
(2)
(a) To
				protect the confidentiality or security of a licensee's records pertaining to
				the consumer, service, product or transaction.
(b) To protect against or prevent actual or
				potential fraud or unauthorized transactions.
(c) For required institutional risk control
				or for resolving consumer disputes or inquiries.
(d) To persons holding a legal or beneficial
				interest relating to the consumer.
(e) To persons acting in a fiduciary or
				representative capacity on behalf of the consumer.
(3) To provide information to insurance rate
				advisory organizations, guaranty funds or agencies, agencies that are rating a
				licensee, persons that are assessing the licensee's compliance with industry
				standards, and the licensee's attorneys, accountants and auditors.
(4) To the extent specifically permitted or
				required under other provisions of law and in accordance with the federal Right
				to Financial Privacy Act of 1978 (12 U.S.C. §§
											3401,
et
seq
.), to law enforcement agencies (including the
				Federal Reserve Board, Office of the Comptroller of the Currency, Federal
				Deposit Insurance Corporation, Office of Thrift Supervision, National Credit
				Union Administration, the Securities and Exchange Commission, the Secretary of
				the Treasury, with respect to 31 U.S.C. Chapter 53, Subchapter II (Records and
				Reports on Monetary Instruments and Transactions) and 12 U.S.C. Chapter 21
				(Financial Recordkeeping), a state insurance authority, and the Federal Trade
				Commission), self-regulatory organizations or for an investigation on a matter
				related to public safety.
(5)
(a) To a consumer reporting agency in
				accordance with the federal Fair Credit Reporting Act (15 U.S.C. §§
												1681,
et
seq
.).
(b)
				From a consumer report reported by a consumer reporting agency.
(6) In connection with a proposed
				or actual sale, merger, transfer or exchange of all or a portion of a business
				or operating unit if the disclosure of nonpublic personal financial information
				concerns solely consumers of the business or unit.
(7)
(a) To
				comply with federal, state or local laws, rules and other applicable legal
				requirements.
(b) To comply with a
				properly authorized civil, criminal or regulatory investigation, or subpoena or
				summons by federal, state or local authorities.
(c) To respond to judicial process or
				government regulatory authorities having jurisdiction over a licensee for
				examination, compliance or other purposes as authorized by law.
(8) For purposes related to the
				replacement of a group benefit plan, a group health plan, a group welfare plan
				or a workers' compensation plan.