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Title 3 . Commerce, Community, and Economic Development
Chapter 26 . Miscellaneous
Section 645. Limitation on disclosure of nonpublic personal financial information

3 AAC 26.645. Limitation on disclosure of nonpublic personal financial information

(a) Except as allowed under 3 AAC 26.605 - 3 AAC 26.749, a licensee may not directly or through an affiliate disclose to a nonaffiliated third party nonpublic personal financial information unless the consumer does not opt out after the licensee has provided the consumer

(1) the initial notice required under 3 AAC 26.610;

(2) the opt out notice required under 3 AAC 26.625; and

(3) a reasonable opportunity to opt out by a means that may include the following:

(A) mailing the notices to the consumer and allowing the consumer to opt out by mailing a form, calling a toll-free telephone number, or other reasonable means within 45 days after the date the licensee mailed the notices;

(B) if a customer opens an online account with the licensee and agrees to receive the notices electronically, allowing the customer to opt out by any reasonable means within 30 days after the date the customer acknowledges receipt of the notices sent in conjunction with opening the account;

(C) for an isolated transaction with a consumer, by providing the notices at the time of the transaction and requesting that the consumer decide whether to opt out before completing the transaction.

(b) A licensee may allow a consumer to opt out of disclosure

(1) of certain nonpublic personal financial information; or

(2) to certain nonaffiliated third parties.

History: Eff. 1/1/2005, Register 172

Authority: AS 21.06.090

AS 21.36.162

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The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006