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PA Bulletin, Doc. No. 01-550



[31 PA. CODE CH. 146a]

[31 Pa.B. 1858]


Privacy of Consumer Financial Information

   An error occurred in a proposal published at 31 Pa.B. 1748, 1755 (March 31, 2001). The definition of ''consumer'' was incorrect. The correct version, as submitted by the Department, appears in Annex A, with ellipses referring to the existing text of the proposal.

Annex A




§ 146a.2.  Definitions.

   The following words and terms, when used in this chapter, have the following meanings, unless the context requires otherwise:

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   Consumer--An individual who seeks to obtain, obtains or has obtained an insurance product or service from a licensee that is to be used primarily for personal, family or household purposes, and about whom the licensee has nonpublic personal information, or that individual's legal representative. Examples include:

   (i)  An individual who provides nonpublic personal information to a licensee in connection with obtaining or seeking to obtain financial, investment or economic advisory services relating to an insurance product or service is a consumer regardless of whether the licensee establishes an ongoing advisory relationship.

   (ii)  An applicant for insurance prior to the inception of insurance coverage is a licensee's consumer.

   (iii)  An individual who is a consumer of another financial institution is not a licensee's consumer solely because the licensee is acting as agent for, or provides processing or other services to, that financial institution.

   (iv)  An individual is a licensee's consumer if the individual is:

   (A)  A beneficiary of a life insurance policy underwritten by the licensee.

   (B)  A claimant under an insurance policy issued by the licensee.

   (C)  An insured or an annuitant under an insurance policy or an annuity, respectively, issued by the licensee.

   (D)  A mortgagor of a mortgage covered under a mortgage insurance policy.

   (E)  Licensee discloses nonpublic personal financial information about the individual to a third party other than as permitted under §§ 146a.31--146a.33.

   (v)  Provided that the licensee provides the initial, annual and revised notices under §§ 146a.11, 146a.12 and 146a.15 to the plan sponsor, group or blanket insurance policyholder or group annuity contractholder, workers' compensation plan participant, and further provided that the licensee does not disclose to a third party nonpublic personal financial information about such an individual other than as permitted under §§ 146a.31--146a.33, an individual is not the consumer of the licensee solely because the individual is:

   (A)  A participant or a beneficiary of an employee benefit plan that the licensee administers or sponsors or for which the licensee acts as a trustee, insurer or fiduciary.

   (B)  Covered under a group or blanket insurance policy or group annuity contract issued by the licensee.

   (C)  A beneficiary in a workers' compensation plan.

   (vi)  The individuals described in subparagraph (v) are consumers of a licensee if the licensee does not meet all the conditions of subparagraph (v).

   (vii)  In no event shall the individuals, solely by virtue of the status described in subparagraph (v) be deemed to be customers for purposes of this chapter.

   (viii)  An individual is not a licensee's consumer solely because the individual is a beneficiary of a trust for which the licensee is a trustee.

   (ix)  An individual is not a licensee's consumer solely because the individual has designated the licensee as trustee for a trust.

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[Pa.B. Doc. No. 01-550. Filed for public inspection March 30, 2001, 9:00 a.m.]

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