Joint marketing.

13-02-21-03. Joint marketing. A financial institution may not disclose customer information to a nonaffiliated third party under a "joint marketing agreement" as that term is defined by section 502(b)(2) of the federal Financial Services Modernization Act of 1999 [Pub. L. 106-102; 113 Stat. 1437; 15 U.S.C. 6802(b)(2)] unless the financial institution has first obtained its customer's written consent for the disclosure. A customer's written consent is not required for marketing that is undertaken by a financial institution on its own behalf or in conjunction with a nonaffiliated party where the financial institution does not share customer information with a nonaffiliated party. History: Effective June 1, 2004. General Authority: NDCC 6-01-04 Law Implemented: