Gramm-Leach-Bliley Act

Effective:  Deadline for complying is July 1, 2001
Contact : Jeff Flora, CAE

NOTICE OF PRIVACY POLICIES FOR  

__________________________________ 

This notice is delivered to you, as a customer or potential customer of ________________________________ (the “Company”), in compliance with the requirements of Public Law 106-102, commonly known as the Gramm-Leach-Bliley Act, and its implementing regulations (the “Act”).  In short, and subject to the specific definitions and exceptions contained in the Act, the Act requires any entity that engages in a covered financial activity to provide a written notice to its existing customers (and in certain circumstances, potential customers) regarding its privacy policies and practices. 

 What is “Nonpublic Personal Information” (“NPI”)? 

According to the Act, “nonpublic personal information” is defined as personally identifiable financial information obtained by an entity from the customer, and any publicly available financial information obtained by the entity using nonpublic financial information made available by the customer, in connection with the services rendered to the customer by the entity.     For example, if an entity used a customer’s bank account number to obtain public court records that it would not have found but for its use of the private information, then that information would still be considered nonpublic personal information for purposes of the Act. 

What NPI does the Company Collect? 

The Company collects only nonpublic personal information that is needed for the transaction or service you request.  The Company may collect this information from the following sources: 

      Information we receive from you on applications or other forms;
Information about your prior transactions with us or others;
Information we receive from a consumer reporting agency. 

What Types of NPI does the Company Disclose and to Whom does the Company Disclose NPI? 

Although the Company does not generally disclose a customer’s nonpublic personal information to outside parties, we may disclose any of the nonpublic personal information we collect under the following circumstances: (i) when you ask or give us permission to do so; (ii) in furtherance of the transaction or service you request; (iii) as otherwise permitted or required by law.  For example, if we (the Company and you) seek to obtain equipment financing through an implement manufacturer or other lender, the Company may disclose all or some of nonpublic financial information you provided the Company to the manufacturer/lender in order to secure such financing.   An example of a disclosure permitted by law would be a disclosure made to an entity to whom you have identified the Company as a credit reference if such disclosure is limited to information related to your specific transactions or experiences with the Company. 

The Company may also disclose a customer’s nonpublic personal information to its employees or agents, but only to the extent necessary to further the transaction or service you requested from the Company. 

Right to Opt Out. 

In certain circumstances under the Act, customers have a right to “opt out”, or prevent, an entity from disclosing their nonpublic personal information to nonaffiliated third parties.  However, through its own policies, the Company has chosen to limit the manner in which it discloses nonpublic personal information to those instances in which a customer has requested or approved the disclosure (including disclosures in furtherance of a transaction or service requested by a customer), or as otherwise permitted or required by law.  Nevertheless, you may still choose to officially “opt out” of disclosures to nonaffiliated third parties by sending a written request to opt out to the Company at the following address: ________________________________________.  Please be aware that even though you opt out, the Company may still be able, or required, to disclose your nonpublic personal information as further set forth in this privacy notice. 

Security Procedures 

The Company is committed to maintaining the privacy of its customers’ information, and has implemented several policies intended to safeguard such information.  First, except when disclosed for permissible purposes as described above, we limit access to your nonpublic personal information only to those employees, agents and contractors who need to know that information to provide the transaction or service you have requested.   The Company also maintains physical, electronic and procedural safeguards to prevent the release of your nonpublic personal information.  If you have any questions about these security measures, please feel free to contact _________________ to discuss in more detail. 

Application to Former Customers. 

The Company’s disclosure policies are applied to former customers in the same manner as they are to current customers. 

In closing, please know that we are providing this notice solely for compliance with the Act, and for no other reason.  The Company has always in the past, and always will, maintain any information you provide us in confidence except as described herein.  We look forward to continuing our professional and personal relationship with you well into the future, and would be glad to discuss any questions you have regarding these newly implemented privacy rules.