§ 32-6-105 — Protection Of Privacy

32-6-105 . Protection of privacy. (1) No information relating to any transaction by electronic funds transfer, or application therefor, between a financial institution and its customer or prospective customer may be disclosed by the financial institution to any person or government entity without:
(a) the consent of the customer; or
(b) a subpoena issued by a court of record directing the financial institution to disclose such information to the person or government entity.
(2) Compliance with such subpoena relieves a financial institution and its employees of liability to a customer or other person for such disclosure.
(3) This section does not prevent:
(a) the examination of financial institutions by duly authorized regulatory authority or the transfer of information by a financial institution to a clearinghouse which administers transactions between financial institutions; or
(b) the access by a party to a transaction to information relating to a specific transaction.

Legislative History

En. 5-1709 by Sec. 9, Ch. 503, L. 1977; R.C.M. 1947, 5-1709; amd. Sec. 1, Ch. 186, L. 1987.