362.422. Disclosure of nonpublic personal information by financial institutions prohibited, rules, notice. - Missouri Statutes

Disclosure of nonpublic personal information by financialinstitutions prohibited, rules, notice.

362.422. 1. No person shall disclose any nonpublic personalinformation to a nonaffiliated third party contrary to the provisions ofTitle V of the Gramm-Leach-Bliley Financial Modernization Act of 1999 (15U.S.C. 6801 to 6809). A state agency with the primary regulatory authorityover an activity engaged in by a financial institution which is subject toTitle V of the Gramm-Leach-Bliley Financial Modernization Act of 1999 mayadopt rules and regulations to carry out this section with respect to suchactivity. Such rules and regulations adopted pursuant to this sectionshall be consistent with and not be more restrictive than standardscontained in Title V of the Gramm-Leach-Bliley Financial Modernization Actof 1999.

2. Unless prohibited by federal law or regulation, any financialinstitution required to provide a disclosure of the institution's privacypolicy pursuant to Title V of the Gramm-Leach-Bliley FinancialModernization Act of 1999 shall provide an initial notice regarding suchprivacy policy:

(1) At the time the customer relationship is established forconsumers who become new customers of the financial institution on or afterJuly 1, 2001; and

(2) Before June 30, 2002, for consumers who are existing customers ofthe financial institution.

A financial institution shall not disclose any nonpublic personalinformation to a nonaffiliated third party contrary to the provisions ofTitle V of the Gramm-Leach-Bliley Financial Modernization Act of 1999before the financial institution has made the disclosure required in thissection.

(L. 2001 H.B. 801 § 1 merged with S.B. 382 § 1)

Effective 7-01-01