SECTION 22.1. Purpose and Scope

(a) Purpose. This subchapter governs the treatment of nonpublic personal financial information about individuals by all covered entities. This subchapter:

(1) requires a covered entity to provide notice to individuals about its privacy policies and practices;

(2) describes the conditions under which a covered entity may disclose nonpublic personal financial information about individuals to nonaffiliated third parties; and

(3) provides methods for individuals to prevent a covered entity from disclosing that information to nonaffiliated third parties.

(b) Scope. This subchapter applies to nonpublic personal financial information about individuals who obtain or are claimants or beneficiaries, primarily for personal, family or household purposes, of products or services from covered entities. This subchapter does not apply to information about companies or about individuals who obtain products or services for business, commercial or agricultural purposes.

Source Note: The provisions of this §22.1 adopted to be effective December 17, 2001, 26 TexReg 10316