§431:3A-401 - Exception to opt out requirements for disclosure of nonpublic personal financial information for service providers and for joint marketing.

PART IV.  EXCEPTIONS TO LIMITS ON DISCLOSURES

OF FINANCIAL INFORMATION

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

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

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

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

(c)  For
purposes of this section, "joint agreement" means a written contract
pursuant to which a licensee and one or more financial institutions jointly
offer, endorse, or sponsor a financial product or service. [L 2001, c 220, pt
of §1]