SB 0306 Requires insurers to provide notice to consumers regarding confidentiality of financial and health information
LR Number:1045S.02C Fiscal Note:1045-01
Committee:Insurance and Housing
Last Action:02/07/01 - SCS Voted Do Pass S Insurance & Housing Journal page:
Committee - Consent
Effective Date:January 1, 2003
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Current Bill Summary

SCS/SB 306 - This act requires state agencies to adopt rules and regulations to carry out the provisions of the Gramm-Leach- Bliley Financial Modernization Act of 1999. That federal act requires insurance licensees to provide notice to customers and consumers about their privacy policies with respect to how they handle financial and health information. The federal act describes the conditions under which a licensee may disclose nonpublic personal information about consumers and customers to nonaffiliated third parties. The rules promulgated by the state agencies shall not be more restrictive than the standards set forth in the federal act.

The act has an emergency clause.