Section R590-206-15 - Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for a Service Provider and Joint Marketing(1)(a) The opt out requirements under Sections R590-206-8 and R590-206-12 do not apply when a licensee provides nonpublic personal financial information to a nonaffiliated third party to perform a service for the licensee or a function on the licensee's behalf, if the licensee:(i) provides the initial notice under Section R590-206-5; and(ii) enters into a contractual agreement with a third party that prohibits the third party from disclosing or using the information other than to carry out the purpose for which the licensee disclosed the information, including use under an exception in Section R590-206-16 or R590-206-17.(b) If a licensee discloses nonpublic personal financial information to a financial institution with which the licensee performs joint marketing, the licensee's contractual agreement with the institution meets the requirements of Subsection (1)(a)(ii) if it prohibits the institution from disclosing or using the nonpublic personal financial information except as necessary to carry out the joint marketing or an exception under Section R590-206-16 or R590-206-17.(2) The service a nonaffiliated third party performs for a licensee under Subsection (1) may include marketing of the licensee's product or service or marketing of a financial product or service offered pursuant to a joint agreement between a licensee and a financial institution.Utah Admin. Code R590-206-15
Amended by Utah State Bulletin Number 2017-15, effective 7/11/2017Adopted by Utah State Bulletin Number 2023-23, effective 11/21/2023