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Can I sell personal information without obtaining consent in Colorado? What are the requirements?

Selling Personal Information in Colorado

Based on the context documents, it is generally prohibited to sell personal information without obtaining consent in Colorado [4.3]. Licensees are prohibited from disclosing nonpublic personal financial information without the consumer’s consent, except as permitted by law or regulation [4.3]. Licensees may disclose nonpublic personal financial information without the consumer’s consent for licensee and consumer protection, to persons holding a legal or beneficial interest relating to the consumer, to persons acting in a fiduciary or representative capacity on behalf of the consumer, and for compliance purposes [4.1]. Licensees shall not disclose nonpublic personal health information about a consumer or customer unless an authorization is obtained from the consumer or customer whose nonpublic personal health information is sought to be disclosed [4.4]. Requests for records or information that include personal identifying information must be documented and reported by state agencies [1.1].

However, it is unclear whether selling personal information is permitted in Colorado based on the context documents. Therefore, it is recommended that you consult with a legal professional to determine the specific requirements and limitations for selling personal information in Colorado.

Exceptions to Disclosure of Nonpublic Personal Financial Information

There are exceptions to the opt-out requirements for disclosure of nonpublic personal financial information for service providers and joint marketing [4.2]. The opt-out requirements do not apply when a licensee provides nonpublic personal financial information to a nonaffiliated third party to perform services for the licensee or functions on the licensee’s behalf, if the licensee provides the initial notice in accordance with Section 5 and enters into a contractual agreement with the third party that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the licensee disclosed the information, including use under an exception in Sections 16 or 17 in the ordinary course of business to carry out those purposes [4.2].

Conclusion

Based on the context documents, it is generally prohibited to sell personal information without obtaining consent in Colorado. However, there are exceptions to the opt-out requirements for disclosure of nonpublic personal financial information for service providers and joint marketing. It is recommended that you consult with a legal professional to determine the specific requirements and limitations for selling personal information in Colorado.

Source(s):
Jurisdiction

Colorado