Can I skip obtaining consent to disclose personal information for a business purpose in New Mexico? What are the requirements?

Based on the documents provided, there are certain exceptions to obtaining consent to disclose personal information for a business purpose in New Mexico.

Exceptions to Authorization Requirement

According to 13.1.3.19 NMAC, the requirements for initial notice to consumers, notice and authorization, and service providers and joint marketing do not apply when a licensee discloses nonpublic personal information:

1. With the consent or at the direction of the consumer, provided that the consumer has not revoked the consent or direction;
2. To protect the confidentiality or security of a licensee’s records pertaining to the consumer, service, product or transaction; to protect against or prevent actual or potential fraud or unauthorized transactions; for required institutional risk control or for resolving consumer disputes or inquiries; to persons holding a legal or beneficial interest relating to the consumer; or to persons acting in a fiduciary or representative capacity on behalf of the consumer;
3. To provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating a licensee, persons that are assessing the licensee’s compliance with industry standards, and the licensee’s attorneys, accountants and auditors;
4. To the extent specifically permitted or required under other provisions of law and in accordance with the federal Right to Financial Privacy Act of 1978, to law enforcement agencies, self-regulatory organizations or for an investigation on a matter related to public safety;
5. To a consumer reporting agency in accordance with the federal Fair Credit Reporting Act; or from a consumer report reported by a consumer reporting agency;
6. In connection with a proposed or actual sale, merger, transfer or exchange of all or a portion of a business or operating unit if the disclosure of nonpublic personal financial information concerns solely consumers of the business or unit;
7. To comply with federal, state or local laws, rules and other applicable legal requirements; to comply with a properly authorized civil, criminal or regulatory investigation, or subpoena or summons by federal, state or local authorities; or to respond to judicial process or government regulatory authorities having jurisdiction over a licensee for examination, compliance or other purposes as authorized by law; or
8. For purposes related to the replacement of a group benefit plan, a group health plan, a group welfare plan or a workers’ compensation policy.

Therefore, based on the documents provided, obtaining consent may not be required to disclose personal information for a business purpose in New Mexico if the disclosure falls under one of the above exceptions.

However, it is important to note that a person that owns or licenses personal identifying information of a New Mexico resident shall implement and maintain reasonable security procedures and practices appropriate to the nature of the information to protect the personal identifying information from unauthorized access, destruction, use, modification or disclosure [57-12C-4 NMSA]. Additionally, a licensee may provide 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 13.1.3.8 NMAC 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 [13.1.3.17 NMAC].

I hope this helps!

Jurisdiction

New Mexico

• Privacy