Section 500.545 - Contract of licensee with nonaffiliated third party; effect of agreement entered before or on July 1, 2000.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.545 Contract of licensee with nonaffiliated third party; effect of agreement entered before or on July 1, 2000.
Sec. 545.
Until July 1, 2002, a contract that a licensee has entered into with a nonaffiliated third party to perform services for the licensee or functions on the licensee's behalf satisfies the provisions of section 535(1)(b), even if the contract does not include a requirement that the third party maintain the confidentiality of nonpublic personal financial information, as long as the licensee entered into the agreement on or before July 1, 2000.
History: Add. 2001, Act 24, Imd. Eff. June 18, 2001
Popular Name: Act 218