FIRST REGULAR SESSION
SENATE BILL NO. 382
91ST GENERAL ASSEMBLY
INTRODUCED BY SENATORS YECKEL AND STOLL.
Read 1st time January 29, 2001, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
1519S.01I
AN ACT
Relating to compliance with Title V of the Federal Gramm-Leach-Bliley Act of 1999, with an emergency clause.
Section 1. 1. No person shall disclose any nonpublic personal information to a nonaffiliated third party contrary to the provisions of Title V of the Gramm-Leach-Bliley Act of 1999 (15 U.S.C. 6801 to 6809). A state agency with the primary regulatory authority over an activity engaged in by a financial institution which is subject to Title V of the Gramm-Leach-Bliley Act of 1999 may adopt rules and regulations to carry out this section with respect to such activity. Such rules and regulations shall not be more restrictive than Title V of the Gramm-Leach-Bliley Act of 1999.
2. Any party subject to rules and regulations under subsection 1 of this section may challenge such rules and regulations de novo in the Cole County circuit court.
Section B. Because of the need to protect consumer confidentiality, the enactment of this act is deemed necessary for the immediate preservation of the public health, welfare, peace and safety, and is hereby declared to be an emergency act within the meaning of the constitution, and the enactment of this act shall be in full force and effect upon its passage and approval or June 1, 2001, whichever later occurs.