F. Sample clauses illustrating some of the notice content required by this section Sample clauses. are included in Appendix A of this regulation. G. Federal Model Privacy Form. (1) Vermont statutes and regulations relating to consumer privacy contain privacy notice content requirements with significant differences from federal content requirements. Among other differences, Vermont is an “opt-in” state. (2) Federal Regulation P (Privacy of Consumer Financial Information), 12 C.F.R. Part 1016, contains a model privacy form at Appendix to Part 1016 Model Privacy Form – (“Federal Model Privacy Form”). (3) A financial institution that uses the Federal Model Privacy Form in accordance with the instructions for use of the Model Federal Privacy Form as set forth in the Appendix to Part 1016, as supplemented by the requirements of this subsection, is in compliance with the content notice requirements of this Regulation B-2015-02. Use of the Federal Model Privacy Form is not required. Financial institutions may use other types of privacy notices so long as the notices comply with this Regulation B-2015-02. (4) Vermont laws and regulations require financial institutions to obtain an consent “opt-in” from a consumer prior to sharing nonpublic personal information with an affiliate or with a nonaffiliated third party, except as otherwise specifically permitted by this regulation. A financial institution may use the Federal Model Privacy Form to comply with this regulation in either of the following ways: Option 1. A financial institution may provide a generalized notice to its Vermont consumers that to each of the questions about whether it shares answers “no” information: (i) everyday business purposes information about your “For our affiliates’ – and (ii) to market to OR creditworthiness;” “for nonaffiliates you;” Option 2. A financial institution can provide a generalized notice to consumers across a number of states, including Vermont, and to the questions in Option 1 answer “yes” above, provided it includes a discussion on the application of Vermont law in the “Other on page 2 of the Federal Model Privacy Form and complies Important Information” box with the requirements in subsection 5 below. (5) A financial institution that chooses to use the Federal Model Privacy Form as provided in Option 2 above shall provide the following information: (a) The on the Federal Model Privacy Form contains “Other Important Information” box statements that convey the following information: Other Important Information
F. Sample clauses. Sample clauses illustrating some of the notice content required by this section are included in Appendix A of this regulation. G. Federal Model Privacy Form. (1) Vermont statutes and regulations relating to consumer privacy contain privacy notice content requirements with significant differences from federal content requirements. Among other differences, Vermont is an “opt-in” state. (2) Federal Regulation P (Privacy of Consumer Financial Information), 12 C.F.R. Part 1016, contains a model privacy form at Appendix to Part 1016 – Model Privacy Form (“Federal Model Privacy Form”). (3) A financial institution that uses the Federal Model Privacy Form in accordance with the instructions for use of the Model Federal Privacy Form as set forth in the Appendix to Part 1016, as supplemented by the requirements of this subsection, is in compliance with the content notice requirements of this Regulation B-2015-02. Use of the Federal Model Privacy Form is not required. Financial institutions may use other types of privacy notices so long as the notices comply with this Regulation B-2015-02. (4) Vermont laws and regulations require financial institutions to obtain an “opt-in” consent from a consumer prior to sharing nonpublic personal information with an affiliate or with a nonaffiliated third party, except as otherwise specifically permitted by this regulation. A financial institution may use the Federal Model Privacy Form to comply with this regulation in either of the following ways: Option 1. A financial institution may provide a generalized notice to its Vermont consumers that answers “no” to each of the questions about whether it shares information: (i) “For our affiliates’ everyday business purposes – information about your creditworthiness;” and (ii) “for nonaffiliates to market to you;” OR Option 2. A financial institution can provide a generalized notice to consumers across a number of states, including Vermont, and answer “yes” to the questions in Option 1 above, provided it includes a discussion on the application of Vermont law in the “Other Important Information” box on page 2 of the Federal Model Privacy Form and complies with the requirements in subsection 5 below. (5) A financial institution that chooses to use the Federal Model Privacy Form as provided in Option 2 above shall provide the following information: (a) The “Other Important Information” box on the Federal Model Privacy Form contains statements that convey the following information: Other Important Information
Privacy_Regulation_mark_up_draft_7-19-2017.docx