# Mich. Comp. Laws § 500.515: Initial, annual, and revised notices; information required; disclosure of nonpublic personal financial information > Michigan · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.515 ## Section - **Citation:** Mich. Comp. Laws § 500.515 - **Heading:** Initial, annual, and revised notices; information required; disclosure of nonpublic personal financial information - **Jurisdiction:** Michigan - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** MI Code / Chapter 500 / Act Act-218-of-1956 / Section 500.515 ## Text Sec. 515. The initial, annual, and revised notices shall include each of the following items of information, in addition to any other information the licensee wishes to provide, that apply to the licensee and to the consumers to whom the licensee sends its privacy notice: The categories of nonpublic personal financial information that the licensee collects. The categories of nonpublic personal financial information that the licensee discloses. The categories of affiliates and nonaffiliated third parties to whom the licensee discloses nonpublic personal financial information, other than those parties to whom the licensee discloses information under sections 537 and 539. The categories of nonpublic personal financial information about the licensee's former customers that the licensee discloses and the categories of affiliates and nonaffiliated third parties to whom the licensee discloses nonpublic personal financial information about the licensee's former customers, other than those parties to whom the licensee discloses information under sections 537 and 539. If a licensee discloses nonpublic personal financial information to a nonaffiliated third party under section 535 and no other exception in section 537 or 539 applies to that disclosure, a separate description of the categories of information the licensee discloses and the categories of third parties with whom the licensee has contracted. An explanation of the consumer's right under section 529 to opt out of the disclosure of nonpublic personal financial information to nonaffiliated third parties, including the method by which the consumer may exercise that right at that time. Any disclosures that the licensee makes under section 603(d)(2)(A)( iii ) of the fair credit reporting act, title VI of the consumer credit protection act, Public Law 90-321, 15 U.S.C. 1681a. The licensee's policies and practices with respect to protecting the confidentiality and security of nonpublic personal financial information. Any disclosure that the licensee makes under subsection (2). If a licensee discloses nonpublic personal financial information as authorized under sections 537 and 539, the licensee is not required to list those exceptions in the initial or annual notices. When describing the categories of parties to whom disclosure is made, the licensee is required to state only that it makes disclosures to other affiliated or nonaffiliated third parties, as applicable, as permitted by law. Instead of providing the information required under subsection (1) and if a licensee does not disclose and does not want to reserve the right to disclose nonpublic personal financial information about customers or former customers to affiliates or nonaffiliated third parties except as authorized under sections 537 and 539, the licensee may state that fact as part of a simplified notice so long as the licensee provides the information required under subsections (1)(a), (h), and (i) and (2). The licensee's initial notice may include categories of nonpublic personal financial information that the licensee reserves the right to disclose in the future but does not currently disclose, and categories of affiliates or nonaffiliated third parties to whom the licensee reserves the right in the future to disclose but to whom the licensee does not currently disclose, nonpublic personal financial information. History: Add. 2001, Act 24, Imd. Eff. June 18, 2001 ## Nearby sections - [Mich. Comp. Laws § 500.100 Insurance code of 1956; short title.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.100.md) - [Mich. Comp. Laws § 500.102 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.102.md) - [Mich. Comp. Laws § 500.103 “Revenue commissioner” defined.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.103.md) - [Mich. Comp. Laws § 500.110 Domestic, foreign, alien; definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.110.md) - [Mich. Comp. Laws § 500.114 Person; definition.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.114.md) - [Mich. Comp. Laws § 500.122 Applicability of Michigan antitrust reform act.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.122.md) - [Mich. Comp. Laws § 500.129 Medical retainer agreement not subject to act.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.129.md) - [Mich. Comp. Laws § 500.134 Validity of certificate of authority or license in force prior to January 1, 1957; validity of plan of operation and premium or assessment; association or facility not state agency and money thereof not state money; records exempt from disclosure; premium or assessment not burden under MCL 500.476a; “association or facility” defined.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.134.md) - [Mich. Comp. Laws § 500.202 Insurance commissioner; qualifications, office, term, appointment, approval, vacancy.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.202.md) - [Mich. Comp. Laws § 500.205 Commissioner; powers.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.205.md) - [Mich. Comp. Laws § 500.222 Examination of insurers; examination report; hearing; public inspection; disclosure of confidential information; effect of current examination; director's authority to terminate or suspend examination not limited; limitation on foreign insurer examination.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.222.md) - [Mich. Comp. Laws § 500.223 Application for certificate of authority; fee; withdrawal of application; reapplication fee; disposition.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.223.md) - [Mich. Comp. Laws § 500.224a Report relating to regulatory fees.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.224a.md) - [Mich. Comp. Laws § 500.226 Disclosure of confidential information; penalty.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.226.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C500_AAct-218-of-1956_S500.515. Check the current official text before relying on it. Not legal advice.