Louisiana Revised Statutes 22:1604 – Customer privacy; protections
Terms Used In Louisiana Revised Statutes 22:1604
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. As used in this Section, unless the context requires otherwise:
(1) “Customer” means a person with an investment security, deposit, trust, or credit relationship with a financial institution.
(2) “Nonpublic customer information” means information maintained by a financial institution relating to insurance coverage purchased by a customer from an insurer, insurance agency, or insurance producer that is not affiliated with the financial institution. “Nonpublic customer information” does not include customer names, addresses and telephone numbers, or any information relating to deposit or investment accounts, loans, or other extensions of credit, or the credit history or financial condition of a customer. Nonpublic customer information includes information concerning insurance escrow accounts, insurance premiums, the terms and conditions of insurance coverage, insurance expirations, insurance claims, and insurance history of an individual, when such information relates to insurance coverage purchased by a customer from an insurer, insurance agency, or insurance producer that is not affiliated with that financial institution.
B. No person shall use any nonpublic customer information for the purpose of selling or soliciting the purchase of insurance or provide nonpublic customer information to a third party for the purpose of another’s sale or solicitation of the purchase of insurance, unless it is clearly and conspicuously disclosed that the information may be so used, and the customer has provided prior written consent to the use for this purpose.
C. The consent under Subsection B of this Section shall be obtained in a separate document and shall not be required as a condition for performance of other services for the customer.
Acts 1997, No. 1475, §2, eff. July 15, 1997; Redesignated from La. Rev. Stat. 22:3063 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2011, No. 94, §1, eff. Jan. 1, 2012.