Sec. 519.
(1) If a licensee is required to provide an opt out notice under section 529, it shall provide a clear and conspicuous notice to each of its consumers that accurately explains the right to opt out under that section. The notice shall state all of the following:
(a) That the licensee discloses or reserves the right to disclose nonpublic personal financial information about its consumer to a nonaffiliated third party.
(b) That the consumer has the right to opt out of that disclosure.
(c) A reasonable means by which the consumer may exercise the opt out right.
(2) A licensee may provide the required opt out notice together with or on the same written or electronic form as the initial notice.
(3) If a licensee provides the opt out notice later than required for the initial notice, the licensee shall also include a copy of the initial notice with the opt out notice in writing or, if the consumer agrees, electronically.
History: Add. 2001, Act 24, Imd. Eff. June 18, 2001 Popular Name: Act 218
Structure 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 500.511 - Initial Notice; Conditions; Delivery.
Section 500.513 - Annual Notice Required; “Annually” Defined; Exception.
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 500.527 - Receipt of Notice.
Section 500.533 - Disclosure of Policy or Account Number.
Section 500.539 - Applicability of MCL 500.507(1)(c), 500.519, 500.529, and 500.535.
Section 500.541 - Operation of Fair Credit Reporting Act; Construction of Chapter.
Section 500.543 - Consumer Opting Out From Disclosure; Discrimination Prohibited.