§ 41B.211 — Data Privacy
Plain-Language Summary
This section protects the privacy of financial information submitted to the Rural Finance Authority. Personal financial data like credit reports, financial statements, and net worth calculations are private data. Business financial information is classified as nonpublic data.
41B.211 DATA PRIVACY.
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Subdivision 1.Data on individuals.
Financial information, including credit reports, financial statements, and net worth calculations, received or prepared by the authority regarding any authority loan and the name of each individual who is the recipient of a loan are private data on individuals, under chapter 13, except that information obtained under the agricultural development bond program in sections 41C.01 to 41C.13 may be released as required by federal tax law. §
Subd. 2.Data not on individuals.
The following data submitted to the authority by businesses that are requesting financial assistance are nonpublic data as defined in section 13.02: financial information about the applicant, including credit reports, financial statements, net worth calculations, business plans, income and expense projections, customer lists, market and feasibility studies not paid for with public funds, tax returns, and financial reports provided to the authority after closing of the financial assistance.
History:
1987 c 396 art 1 s 30; 1991 c 332 s 5; 1995 c 259 art 1 s 29
History: History: 1987 c 396 art 1 s 30; 1991 c 332 s 5; 1995 c 259 art 1 s 29