PART IV.  EXCEPTIONS TO LIMITS ON DISCLOSURES

OF FINANCIAL INFORMATION

 

[§431:3A-401] Exception to opt out requirements for disclosure of nonpublic personalfinancial information for service providers and for joint marketing.  (a)  The opt out requirements in sections431:3A-204 and 431:3A-301 shall not apply if a licensee provides nonpublicpersonal financial information to a nonaffiliated third party to performservices for the licensee or functions on the licensee’s behalf, if thelicensee:

(1)  Provides the initial notice in accordance withsection 431:3A-201; and

(2)  Enters into a contractual agreement with thethird party that prohibits the third party from disclosing or using theinformation other than to carry out the purposes for which the licenseedisclosed the information, including use under an exception in sections431:3A-402 and 431:3A-403 in the ordinary course of business to carry out thosepurposes.

(b)  Theservices a nonaffiliated third party performs for a licensee under subsection(a) include marketing of the licensee’s own products or services or marketingof financial products or services offered pursuant to joint agreements betweenthe licensee and one or more financial institutions.

(c)  Forpurposes of this section, "joint agreement" means a written contractpursuant to which a licensee and one or more financial institutions jointlyoffer, endorse, or sponsor a financial product or service. [L 2001, c 220, ptof §1]