2021 Texas Statutes
Insurance Code
Title 5 - Protection of Consumer Interests
Subtitle C - Deceptive, Unfair, and Prohibited Practices
Chapter 556 - Unfair Methods of Competition and Unfair Practices by Financial Institutions
Subchapter C. Regulation of Practices
Section 556.104. Use of Customer Information
Sec. 556.104. USE OF CUSTOMER INFORMATION. (a) In this section:
(1) "Customer" means a person with an investment, security, deposit, trust, or credit relationship with a financial institution.
(2) "Nonpublic customer information" means information relating to an individual that is derived from a bank record, including information concerning insurance premiums, the terms and conditions of insurance coverage, insurance expirations, insurance claims, and insurance history of the individual. The term does not include a customer's name, address, or telephone number.
(b) A person may not use nonpublic customer information for the purpose of selling or soliciting the purchase of insurance, or provide nonpublic customer information to a third party for the purpose of another's selling or soliciting the purchase of insurance, unless:
(1) it is clearly and conspicuously disclosed that the nonpublic customer information may be used for that purpose; and
(2) the customer has been provided an opportunity to object before the time the information is used.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
