Michigan Compiled Laws 218-1956-5 Chapter 5 Privacy Of Financial Information (500.501...500.547)

• Section 500.501 Scope Of Chapter.
  (1) This chapter applies to the treatment of nonpublic personal financial information about individuals who obtain or are claimants or beneficiaries of products or...
• Section 500.503 Definitions.
  As used in this chapter: (a) “Affiliate” means any company that controls, is controlled by, or is under common control with another company. (b)...
• Section 500.505 Notice And Opt Out Requirements.
  (1) A licensee is not required to provide the notice and opt out requirements for nonpublic personal financial information under this chapter if the...
• Section 500.507 Privacy Policies And Practices; Notice.
  (1) Beginning July 1, 2001, a licensee shall provide a clear and conspicuous notice that accurately reflects its privacy policies and practices to all...
• Section 500.509 Customer Relationship; Time Of Establishment; Continuing Relationship; Revised Privacy Notice For New Insurance Product Or Service.
  (1) A licensee establishes a customer relationship at the time the licensee and the consumer enter into a continuing relationship. A continuing relationship includes,...
• Section 500.511 Initial Notice; Conditions; Delivery.
  (1) A licensee may provide the initial notice within a reasonable time after the licensee establishes a customer relationship if establishing the customer relationship...
• Section 500.513 Annual Notice Required; “annually” Defined; Exception.
  (1) A licensee shall provide a clear and conspicuous notice to customers that accurately reflects its privacy policies and practices not less than annually...
• Section 500.515 Initial, Annual, And Revised Notices; Information Required; Disclosure Of Nonpublic Personal Financial Information.
  (1) The initial, annual, and revised notices shall include each of the following items of information, in addition to any other information the licensee...
• Section 500.517 Initial Notice Requirements For Consumer Not A Customer; Short-form Initial Notice; Delivery.
  (1) A licensee may satisfy the initial notice requirements in sections 507 and 519(3) for a consumer who is not a customer by providing...
• Section 500.519 Opt Out Notice; Requirements.
  (1) If a licensee is required to provide an opt out notice under section 529, it shall provide a clear and conspicuous notice to...
• Section 500.521 Opt Out Notice To Joint Consumers.
  (1) If 2 or more consumers jointly obtain an insurance product or service from a licensee, the licensee may provide a single opt out...
• Section 500.523 Consumer's Opt Out Direction; Compliance Requirements.
  (1) A licensee shall comply with a consumer's opt out direction as soon as reasonably practicable after the licensee receives it. (2) A consumer...
• Section 500.525 Disclosure Of Nonpublic Personal Financial Information To Nonaffiliated Third Party.
  Except as otherwise authorized in this chapter, a licensee shall not, directly or through any affiliate, disclose any nonpublic personal financial information about a...
• Section 500.527 Receipt Of Notice.
  (1) A licensee shall provide any notice required under this chapter so that each consumer can reasonably be expected to receive actual notice in...
• Section 500.529 Disclosure Of Nonprofit Personal Financial Information To Nonaffiliated Third Party; Reasonable Opportunity; Opt Out Notice.
  (1) Except as otherwise provided in this chapter, a licensee shall not, directly or through any affiliate, disclose any nonpublic personal financial information about...
• Section 500.531 Receipt Of Nonpublic Personal Financial Information From Nonaffiliated Financial Institution; Limitation On Disclosure.
  (1) If a licensee receives nonpublic personal financial information from a nonaffiliated financial institution under an exception in section 537 or 539, the licensee's...
• Section 500.533 Disclosure Of Policy Or Account Number.
  (1) A licensee shall not, directly or through an affiliate, disclose, other than to a consumer reporting agency, a policy or account number or...
• Section 500.535 Applicability Of Opt Out Requirements In Mcl 500.519 And 500.529; “joint Agreement” Defined.
  (1) The opt out requirements in sections 519 and 529 do not apply when a licensee provides nonpublic personal financial information to a nonaffiliated...
• Section 500.537 Applicability Of Mcl 500.507(1)(c), 500.519, 500.529, And 500.535; “necessary To Effect, Administer, Or Enforce A Transaction” Defined.
  (1) Sections 507(1)(c), 519, 529, and 535 do not apply if the licensee discloses nonpublic personal financial information as necessary to effect, administer, or...
• Section 500.539 Applicability Of Mcl 500.507(1)(c), 500.519, 500.529, And 500.535.
  Sections 507(1)(c), 519, 529, and 535 do not apply when a licensee discloses nonpublic personal financial information as follows: (a) With the consent or...
• Section 500.540 Use Or Disclosure Of Nonpublic Personal Financial Information By Certain Associations Or Facilities.
  The Michigan life and health guaranty association, the property and casualty guaranty association, the Michigan automobile insurance placement facility, the Michigan worker's compensation placement...
• Section 500.541 Operation Of Fair Credit Reporting Act; Construction Of Chapter.
  Nothing in this chapter shall be construed to modify, limit, or supersede the operation of the fair credit reporting act, title VI of the...
• Section 500.543 Consumer Opting Out From Disclosure; Discrimination Prohibited.
  A licensee shall not unfairly discriminate against any consumer because that consumer has opted out or intends to opt out from the disclosure of...
• Section 500.545 Contract Of Licensee With Nonaffiliated Third Party; Effect Of Agreement Entered Before Or On July 1, 2000.
  Until July 1, 2002, a contract that a licensee has entered into with a nonaffiliated third party to perform services for the licensee or...
• Section 500.547 Protection Of Customer Records And Information; Adoption Of Guidelines For Administrative, Technical, And Physical Safeguards.
  (1) The commissioner shall adopt guidelines for administrative, technical, and physical safeguards that protect the security, confidentiality, and integrity of customer information, pursuant to...

Last modified: October 10, 2016