(a) A covered entity is not subject to the notice and opt out requirements for nonpublic personal financial information set out in this subchapter if the covered entity is an employee, agent, or other representative of another covered entity (a principal) and:
  (1) the principal otherwise complies with, and provides the notices required by, the provisions of this subchapter; and
  (2) the covered entity does not disclose any nonpublic personal financial information to any person other than the principal or its affiliates in a manner permitted by this subchapter.
(b) Subject to subsection (c) of this section, covered entity includes an eligible surplus lines insurer for transactions where Texas is the home state of the insured to the extent the insurer accepts business placed through a person subject to Insurance Code Chapter 981.
(c) A person transacting surplus lines business will be deemed to be in compliance with the notice and opt out requirements for nonpublic personal financial information set out in this subchapter provided:
  (1) the person does not disclose nonpublic personal financial information of a consumer or customer to nonaffiliated third parties for any purpose, including joint servicing or marketing under §22.17 of this title (relating to Exception to Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for Service Providers and Joint Marketing), except as permitted by §22.18 of this title (relating to Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for Processing and Servicing Transactions), and §22.19 of this title (relating to Other Exceptions to Notice and Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information); and
  (2) the person delivers a notice to the consumer at the time a customer relationship is established on which the following is printed in at least 16-point type:
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Source Note: The provisions of this §22.3 adopted to be effective December 17, 2001, 26 TexReg 10316; amended to be effective December 7, 2014, 39 TexReg 9566