LD 661
pg. 12
Page 11 of 13 An Act To Amend the Laws Governing Privacy of Consumer Financial Information ... Page 13 of 13
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LR 214
Item 1

 
40 (2001); the Board of Governors of the Federal Reserve System,
12 Code of Federal Regulations, Part 216 (2001); the Federal
Deposit Insurance Corporation, 12 Code of Federal Regulations,
Part 332 (2001); the Office of Thrift Supervision, 12 Code of
Federal Regulations, Part 573 (2001); the National Credit Union
Administration, 12 Code of Federal Regulations, Part 716 (2001);
the Federal Trade Commission, 16 Code of Federal Regulations,
Part 313 (2001); or the Securities and Exchange Commission, 17
Code of Federal Regulations, Part 248 (2001), if the settlement
agent is a financial institution as defined in those
regulations.__This subsection is not intended to permit the
release of health care information except as permitted by Title
22, section 1711-C or Title 24-A, chapter 24.

 
2.__Opt in; disclosure to nonaffiliated 3rd party.__A
settlement agent required to comply with subsection 1 may not
disclose, directly or through an affiliate, to a nonaffiliated
3rd party any nonpublic personal information unless the person
to whom the information pertains has affirmatively consented
to the disclosure in writing and has not withdrawn that
consent.__This subsection does not prohibit the disclosure of
nonpublic personal information by a settlement agent to a
nonaffiliated 3rd party to the extent such a disclosure is
permitted by the federal Gramm-Leach-Bliley Act, 15 United
States Code, Section 6802, subsection b, paragraph 2 and
subsection e.

 
3. Use of terms.__As used in this section, unless the
context otherwise indicates, the terms "affiliate,"
"nonaffiliated 3rd party" and "nonpublic personal information"
have the same meanings as in the federal Gramm-Leach-Bliley
Act, 15 United States Code, Section 6801 et seq. (1999).

 
PART B

 
Sec. B-1. Statutory referendum procedure; submission at statewide election; form of
question; effective date. This Act takes effect when approved only for
the purpose of permitting its submission to the legal voters
of the State at a statewide election held on the Tuesday
following the first Monday of November following passage of
this Act. The municipal officers of this State shall notify
the inhabitants of their respective cities, towns and
plantations to meet, in the manner prescribed by law for
holding a statewide election, to vote on the acceptance or
rejection of this Act by voting on the following question:

 
"Do you favor requiring financial services providers to
obtain permission from individuals before disclosing
nonpublic personal information to nonaffiliated 3rd
parties?"


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