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R590. Insurance,
Administration. (Effective 1-11-01)
R590-205. Privacy of Consumer Information Compliance
Deadline.
R590-205-1. Authority.
This rule is promulgated pursuant to Subsections 31A-2-202(1),
31A-2-201(2) and 31A-2-201(3)(a) in which the commissioner is empowered
to administer and enforce Title 31A, to perform duties imposed by Title
31A and to make administrative rules to implement the provisions of
Title 31A. Furthermore, Title V, Section 505, 15 U.S.C. 6805, empowers
the Utah Insurance Commissioner to enforce Subtitle A of Title V of the
Gramm-Leach-Bliley Act of 1999, 15 U.S.C. 6801 through 6820. Title V,
Section 505, 15 U.S.C. 6805(b)(2), authorizes the commissioner to issue
rules to implement the requirements of Title V, Section 501(b) of the
federal act.
R590-205-2. Purpose.
The
purpose of this rule is provide an extension to persons and entities
under the jurisdiction of the Utah Insurance Department that are
required to adopt policies, procedures, and controls to prevent the
unauthorized disclosure of personal nonpublic information relating to
their customers under Title V of the Gramm-Leach-Bliley Act of 1999, 15
U.S.C. 6801 through 6827. The extension would give such persons and
entities time to comply with the requirements of Title V of the Gramm-Leach-Bliley
Act of 1999, 15 U.S.C. 6801 through 6827.
A further purpose
of the rule is to avoid the application of Title V, Sec. 505(c) of the
Gramm-Leach-Bliley Act of 1999 that provides that if a state fails to
adopt regulations to implement Title V of the federal act, the State
shall not be eligible to override any federal insurance customer
protections prescribed by a Federal Banking Agency.
R590-205-3.
Applicability and Scope.
This rule shall apply to all insurers, producers, and other persons
licensed or required to be licensed or required to be authorized,
registered or required to be registered or domiciled in Utah pursuant to
the Utah Insurance Code. It also applies to unauthorized insurers who
accept business through a licensed surplus line broker in Utah, if the
surplus line placements are placed pursuant to 31A-15-103.
R590-205-4.
Definitions.
For the purposes of this rule the commissioner adopts the following
definitions:
(1) "Utah Insurance
Code" means Title 31A of the Utah Code.
(2) "Licensee"
means all insurers, producers, and other persons licensed or required to
be licensed or required to be authorized, registered or required to be
registered or domiciled in Utah pursuant to the Utah Insurance Code,
including but not limited to unauthorized insurers who accept business
through a licensed surplus line broker in Utah, if the surplus line
placements are placed pursuant to 31A-15-103.
R590-205-5.
Enforcement
Title V of the Gramm-Leach-Bliley Act of 1999, 15 U.S.C. 6801 through
6827 shall be enforced by the commissioner with respect to all licensees
of the department.
R590-205-6.
Compliance Date.
In order
to provide sufficient time for licensees to establish policies,
procedures and controls relating to the use and disclosure of personal
nonpublic information of their customers and to comply with the
requirements of Title V of the Gramm-Leach-Bliley Act of 1999, 15 U.S.C.
6801 through 6827, effective November 13, 2000, the commissioner extends
the time for compliance for all licensees to July 1, 2001.
R590-205-7.
Severability.
If any provision or clause of this rule or its application to any
person or situation is held invalid, such validity shall not affect any
other provision or application of this rule which can be given effect
without the invalid provision or application, and to this end the
provisions of this rule are declared to be severable.
KEY: insurance law
privacy
2000 31A-2-201
Effective
1-11-01 31A-2-202
15 U.S.C
6805
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