Michigan Compiled Laws
218-1956-5 - Chapter 5 Privacy of Financial Information (500.501...500.547)
Section 500.540 - Use or Disclosure of Nonpublic Personal Financial Information by Certain Associations or Facilities.

Sec. 540.
The Michigan life and health guaranty association, the property and casualty guaranty association, the Michigan automobile insurance placement facility, the Michigan worker's compensation placement facility, and the assigned claims facility created under section 3171 shall not disclose or use nonpublic personal financial information except as provided in section 537(1)(a) to (e) or section 539(a) to (o).
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.