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

 
The legal voters of each city, town and plantation shall vote
by ballot on this question and designate their choice by a cross
or check mark placed within a corresponding square below the
word "Yes" or "No." The ballots must be received, sorted,
counted and declared in open ward, town and plantation meetings
and returns made to the Secretary of State in the same manner as
votes for members of the Legislature. The Governor shall review
the returns and, if it appears that a majority of the legal
votes are cast in favor of the Act, the Governor shall proclaim
that fact without delay, and the Act takes effect 30 days after
the date of the proclamation.

 
The Secretary of State shall prepare and furnish to each
city, town and plantation all ballots, returns and copies of
this Act necessary to carry out the purposes of this
referendum.

 
SUMMARY

 
Currently, state law conforms to the opt-out provisions of
the federal Gramm-Leach-Bliley Act regarding the disclosure of
nonpublic personal information. This bill puts in place an
opt-in requirement so that financial services providers,
including banks, credit unions, securities firms and mortgage
companies, must have permission from individuals before
disclosing nonpublic personal information to nonaffiliated 3rd
parties, but only upon approval by voters at a statewide
referendum.


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