April 18, 2018, Introduced by Senators STAMAS, SCHMIDT, HORN, JONES, MARLEAU, BRANDENBURG, HUNE and ANANICH and referred to the Committee on Insurance.
A bill to amend 1956 PA 218, entitled
"The insurance code of 1956,"
by amending section 513 (MCL 500.513), as added by 2001 PA 24.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
513. (1) A 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 section, 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 has not changed from the
previous notice the licensee provided to the customer under
subsection (1) or section 511.
(3) (2)
A licensee is not required to
provide an annual notice
under subsection (1) to a former customer.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.