A financial institution that has not received a customer's
express consent or opt-in election may disclose customer information to a third
party only as provided by subsections 1 through 11 of North Dakota Century Code
section 6-08.1-02, North Dakota Century
Code section
6-08.1-03, and as follows:
1. To effect, administer, or enforce a
transaction requested or authorized by the customer or in connection with
servicing or processing a financial product or service requested or authorized
by the customer;
2. To maintain or
service the customer's account with the financial institution or with another
entity as part of a private label credit card program or other extension of
credit on behalf of such entity;
3. In connection with a proposed or actual
securitization, secondary market sale, including sales of servicing rights, or
a similar transaction related to a transaction of the customer;
4. With the consent or at the direction of
the customer;
5. To protect the
confidentiality or security of the financial institution's records pertaining
to the customer, the service or product, or the transaction therein;
6. To protect against or prevent actual or
potential fraud, unauthorized transactions, claims, or other liability;
7. For required institutional risk
control or for resolving customer disputes or inquiries;
8. To persons holding a legal or beneficial
interest relating to the customer;
9. To persons acting in a fiduciary or
representative capacity on behalf of the customer;
10. To provide information to insurance rate
advisory organizations, guaranty funds or agencies, applicable rating agencies
of the financial institution, persons assessing the institution's compliance
with industry standards, and the institution's attorneys, accountants, and
auditors;
11. To the extent
specifically permitted or required under other provisions of North Dakota law,
federal law, and in accordance with the Right to Financial Privacy Act of 1978,
to federal law enforcement agencies, including a federal functional regulator,
the secretary of the treasury with respect to subchapter II of chapter
53 of
title 31, United States Code, and chapter 2 of title I of Public Law
91-508 [
12 U.S.C.
1951 -
1959 ], a state insurance
authority, or the federal trade commission, self-regulatory organizations, or
for an investigation on a matter related to public safety;
12. To a consumer reporting agency in
accordance with the federal Fair Credit Reporting Act or from a consumer report
reported by a customer reporting agency;
13. 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 concerns solely customers of such business or
unit; or
14. To comply with
federal, state, or local laws, rules, and other applicable legal requirements;
to comply with a properly authorized civil, criminal, or regulatory
investigation or subpoena or summons by federal, state, or local authorities;
or to respond to judicial process or government regulatory authorities having
jurisdiction over the financial institution for examination, compliance, or
other purposes as authorized by law.
A financial institution may make a disclosure of necessary
customer information under this section even though a customer has advised the
financial institution that the customer does not consent to the disclosure.
