RECORD MAINTENANCE, STORAGE, TRANSFER, AND DESTRUCTION

(1) Records may be maintained electronically if the storage system complies with the Fair and Accurate Credit Transactions Act of 2003 ( 15 USC 1681 et seq.), the Gramm-Leach-Bliley Act ( 15 USC 6801 et seq.), and the regulations adopted thereunder (16 CFR 314). (2) A licensed entity shall make all records available to the department in a usable format pursuant to 32-9-121 and 32-9-130 , MCA. (3) An individual who terminates sponsorship with an entity shall relinquish to the entity any records in the individual's possession at the time of termination. (4) A person who disposes of records at the end of the retention period shall destroy personal information by shredding, burning, erasing, or otherwise making the information indecipherable as required by 30-14-1703 , MCA, the Fair and Accurate Credit Transactions Act of 2003 ( 15 USC 1681 et seq.), and the regulations adopted thereunder (16 CFR 682). (5) A licensed entity that becomes aware of an instance of unauthorized access to customer information shall comply with 30-14-1704 , MCA. Authorizing statute(s): 32-9-121 , 32-9-130 , MCA Implementing statute(s): 32-9-121 , 32-9-124 , 30-14-1703 , 30-14-1704 , MCA History: NEW, 2012 MAR p. 1762, Eff. 9/7/12.