Sec.38a-8-108. Annual privacy notice to customers required

(a) A licensee shall provide a clear and conspicuous notice to customers that accurately reflects its privacy policies and practices not less than annually during the continuation of the customer relationship. Annually means at least once in any period of twelve consecutive months during which that customer relationship exists. A licensee may define the twelve-consecutive-month period, but the licensee shall apply it to the customer on a consistent basis. A licensee provides a notice annually if it defines the twelve-consecutive-month period as a calendar year and provides the annual notice to the customer once in each calendar year following the calendar year in which the licensee provided the initial notice.

(b) Notwithstanding the provisions of subsection (a) of this section, a licensee that (1) provides nonpublic personal financial information to nonaffiliated third parties only in accordance with section 38a-8-116, 38a-8-117 or 38a-8-118 of the Regulations of Connecticut State Agencies, and (2) has not changed its policies and practices with regard to disclosing nonpublic personal financial information from the policies and practices that were disclosed in the most recent disclosure sent to consumers in accordance with this section or section 38a-8-107 of the Regulations of Connecticut State Agencies shall not be required to provide an annual disclosure under this section until such time as the licensee fails to comply with any provision of subdivision (1) or (2) of this subsection.

(c) A licensee is not required to provide an annual notice to a former customer.

(d) When a licensee is required by this section to deliver an annual privacy notice, the licensee shall deliver it according to section 38a-8-112 of the Regulations of Connecticut State Agencies.

(Adopted effective June 7, 2002; Amended October 5, 2018)