Michigan Laws 500.513 – Annual notice required; “annually” defined; exception
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 500.513
- Annual notice: means the privacy notice required in section 513. See Michigan Laws 500.503
- Clear and conspicuous: means that a notice is reasonably understandable and designed to call attention to the nature and significance of the information in the notice. See Michigan Laws 500.503
- Customer: means a consumer who has a customer relationship with a licensee. See Michigan Laws 500.503
- Customer relationship: means a continuing relationship between a consumer and a licensee under which the licensee provides 1 or more insurance products or services to the consumer that are to be used primarily for personal, family, or household purposes. See Michigan Laws 500.503
- Licensee: means a licensed insurer or producer, and other persons licensed or required to be licensed, authorized or required to be authorized, registered or required to be registered, or holding or required to hold a certificate of authority under this act. See Michigan Laws 500.503
- Nonaffiliated third party: means any person except a licensee's affiliate or a person employed jointly by a licensee and any company that is not the licensee's affiliate. See Michigan Laws 500.503
(1) Except as otherwise provided in subsection (2), a licensee shall provide a clear and conspicuous notice to customers that accurately reflects its privacy policies and practices not less than annually during the continuation of the customer relationship. As used in this subsection, “annually” means at least once in any period of 12 consecutive months during which that customer relationship exists. A licensee may define the 12-consecutive-month period, but the licensee shall apply it to the customer on a consistent basis.
(2) A licensee is not required to provide an annual notice under subsection (1) if all of the following apply:
(a) The licensee only provides nonpublic personal information to a nonaffiliated third party under section 535, 537, or 539.
(b) The licensee’s privacy policies and practices about disclosing nonpublic personal information have not changed from the previous notice the licensee provided to the customer under subsection (1) or section 511.
(3) A licensee is not required to provide an annual notice under subsection (1) to a former customer.