500.547 Protection of customer records and information; adoption of guidelines for administrative, technical, and physical safeguards.
178 words·~1 min read·
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500.547 Protection of customer records and information; adoption of guidelines for administrative, technical, and physical safeguards.
Sec. 547.
(1)The commissioner shall adopt guidelines for administrative, technical, and physical safeguards that protect the security, confidentiality, and integrity of customer information, pursuant to sections 501, 505(b), and 507 of the Gramm-Leach-Bliley act, Public Law 106-102, 113 Stat. 1338, 15 U.S.C. 6801, 6805, and 6807.
(2)Each licensee shall adopt policies and procedures for administrative, technical, and physical safeguards for the protection of customer records and information. The policies and procedures shall be based on the guidelines adopted under subsection
(1)and shall be reasonably designed to do all of the following:
(a)Ensure the security and confidentiality of customer records and information.
(b)Protect against any anticipated threats or hazards to the security or integrity of customer records and information.
(c)Protect against unauthorized access to or use of customer records or information that could result in substantial harm or inconvenience to any customer.
History: Add. 2001, Act 24 , Imd. Eff. June 18, 2001
Popular Name: Act 218