Sec. 523.
(1) A licensee shall comply with a consumer's opt out direction as soon as reasonably practicable after the licensee receives it.
(2) A consumer may exercise the right to opt out at any time. A consumer's direction to opt out under this subsection is effective until the consumer revokes it in writing or, if the consumer agrees, revokes it electronically.
(3) If a customer relationship terminates, the customer's opt out direction shall continue to apply to the nonpublic personal financial information that the licensee collected during or related to that relationship. If the individual subsequently establishes a new customer relationship with the licensee, the opt out direction that applied to the former relationship does not apply to the new relationship.
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.