Michigan Compiled Laws
218-1956-5 - Chapter 5 Privacy of Financial Information (500.501...500.547)
Section 500.517 - Initial Notice Requirements for Consumer Not a Customer; Short-Form Initial Notice; Delivery.

Sec. 517.
(1) A licensee may satisfy the initial notice requirements in sections 507 and 519(3) for a consumer who is not a customer by providing a short-form initial notice at the same time as the licensee delivers an opt out notice as required in section 519.
(2) A short-form initial notice under subsection (1) shall be clear and conspicuous, state that the licensee's privacy notice is available upon request, and explain a reasonable means by which the consumer may obtain that notice.
(3) The licensee shall deliver its short-form initial notice according to section 527. The licensee is not required to deliver its privacy notice with its short-form initial notice and may provide the consumer a reasonable means to obtain its privacy notice. If a consumer who receives the licensee's short-form notice requests the licensee's privacy notice, the licensee shall deliver its privacy notice according to section 527.
History: Add. 2001, Act 24, Imd. Eff. June 18, 2001 Popular Name: Act 218

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 500 - Insurance Code of 1956

Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)

218-1956-5 - Chapter 5 Privacy of Financial Information (500.501...500.547)

Section 500.501 - Scope of Chapter.

Section 500.503 - Definitions.

Section 500.505 - Notice and Opt Out Requirements.

Section 500.507 - Privacy Policies and Practices; Notice.

Section 500.509 - Customer Relationship; Time of Establishment; Continuing Relationship; Revised Privacy Notice for New Insurance Product or Service.

Section 500.511 - Initial Notice; Conditions; Delivery.

Section 500.513 - Annual Notice Required; “Annually” Defined; Exception.

Section 500.515 - Initial, Annual, and Revised Notices; Information Required; Disclosure of Nonpublic Personal Financial Information.

Section 500.517 - Initial Notice Requirements for Consumer Not a Customer; Short-Form Initial Notice; Delivery.

Section 500.519 - Opt Out Notice; Requirements.

Section 500.521 - Opt Out Notice to Joint Consumers.

Section 500.523 - Consumer's Opt Out Direction; Compliance Requirements.

Section 500.525 - Disclosure of Nonpublic Personal Financial Information to Nonaffiliated Third Party.

Section 500.527 - Receipt of Notice.

Section 500.529 - Disclosure of Nonprofit Personal Financial Information to Nonaffiliated Third Party; Reasonable Opportunity; Opt Out Notice.

Section 500.531 - Receipt of Nonpublic Personal Financial Information From Nonaffiliated Financial Institution; Limitation on Disclosure.

Section 500.533 - Disclosure of Policy or Account Number.

Section 500.535 - Applicability of Opt Out Requirements in MCL 500.519 and 500.529; “Joint Agreement” Defined.

Section 500.537 - Applicability of MCL 500.507(1)(c), 500.519, 500.529, and 500.535; “Necessary to Effect, Administer, or Enforce a Transaction” Defined.

Section 500.539 - Applicability of MCL 500.507(1)(c), 500.519, 500.529, and 500.535.

Section 500.540 - Use or Disclosure of Nonpublic Personal Financial Information by Certain Associations or Facilities.

Section 500.541 - Operation of Fair Credit Reporting Act; Construction of Chapter.

Section 500.543 - Consumer Opting Out From Disclosure; Discrimination Prohibited.

Section 500.545 - Contract of Licensee With Nonaffiliated Third Party; Effect of Agreement Entered Before or on July 1, 2000.

Section 500.547 - Protection of Customer Records and Information; Adoption of Guidelines for Administrative, Technical, and Physical Safeguards.