[§431:3A-204] Form of opt out notice to consumers and opt out methods.  (a)  A licensee shall provide an opt out noticeto each of the licensee's consumers that is clear and conspicuous andaccurately explains the right to opt out.  The notice shall state:

(1)  That the licensee discloses or reserves the rightto disclose nonpublic personal financial information about its consumer to anonaffiliated third party;

(2)  That the consumer has the right to opt out ofthat disclosure; and

(3)  A reasonable means by which the consumer mayexercise the opt out right.

(b)  Alicensee may provide the opt out notice together with or on the same written orelectronic form as the initial notice the licensee provides in accordance withsection 431:3A-201.

(c)  If alicensee provides the opt out notice later than required for the initial noticein accordance with section 431:3A-201, the licensee shall also include a copyof the initial notice with the opt out notice in writing or, if the consumeragrees, electronically.

(d)  If twoor more consumers jointly obtain an insurance product or service from alicensee, the licensee may provide a single opt out notice.  The licensee’s optout notice shall explain that any of the joint consumers may exercisethe right to opt out; provided that the licensee may:

(1)  Treat an opt out direction by a joint consumer asapplying to all of the associated joint consumers; or

(2)  Permit each joint consumer to opt out separately;provided that if a licensee permits each joint consumer to opt out separately,the licensee shall permit one of the joint consumers to opt out on behalf ofall of the joint consumers.

A licensee may not require all joint consumers toopt out before it implements any opt out direction.

(e)  Alicensee shall comply with a consumer’s opt out direction as soon as reasonablypracticable after the licensee receives it.

(f)  Aconsumer may exercise the right to opt out at any time.

(g)  Aconsumer’s direction to opt out under this section shall be effective until theconsumer revokes it in writing or, if the consumer agrees, electronically. When a customer relationship terminates, the customer’s opt out direction shallcontinue to apply to the nonpublic personal financial information that thelicensee collected during or related to that relationship.  If the individualsubsequently establishes a new customer relationship with the licensee, the optout direction that applied to the former relationship shall not apply to thenew relationship.

(h)  If alicensee is required to deliver an opt out notice by this section, the licenseeshall deliver it in accordance with section 431:3A-206. [L 2001, c 220, pt of§1]