Ill. Admin. Code tit. 50, § 4002.80 - Revised Privacy Notices
a)
General rule. Except as otherwise authorized in this Part, 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
4002.40
of this Part, 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)
Pursuant to subsection (a) of this Section, except as otherwise permitted by
Sections
4002.130,
4002.140
and
4002.150
of this Part, a licensee is required to provide a revised notice before any
amendments or changes are made to its privacy policies or practices concerning
disclosure as set forth in the initial notice, or the most recently issued
notice, such as:
1) Disclosing a new category
of nonpublic personal financial information to any nonaffiliated third
party;
2) Disclosing nonpublic
personal financial information to a new category of nonaffiliated third party;
or
3) Disclosing 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.
c) 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.
d) Delivery. When a
licensee is required to deliver a revised privacy notice by this Section, the
licensee shall deliver it according to Section
4002.90 of
this Part.
Notes
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