(a) Presumption of public records. Except as otherwise provided in subsection (b), records obtained by the administrator or filed under this chapter, including a record contained in or filed with a registration statement, application, notice filing, or report, are public records and are available for public examination under such rules as the administrator prescribes.

(b) Nonpublic records. The following records are not public records and are not available for public examination under subsection (a):

(1) A record obtained by the administrator in connection with an audit or inspection under Section 75-71-411(d) or an investigation under Section 75-71-602;

(2) A part of a record filed in connection with a registration statement under Section 75-71-301 and Sections 75-71-303 through 75-71-305 or a record under Section 75-71-411(d) that contains trade secrets or confidential information if the person filing the registration statement or report has asserted a claim of confidentiality or privilege that is authorized by law;

(3) A record that is not required to be provided to the administrator or filed under this chapter and is provided to the administrator only on the condition that the record will not be subject to public examination or disclosure;

(4) A nonpublic record received from a person specified in Section 75-71-608(a);

(5) Any social security number, residential address unless used as a business address, and residential telephone number unless used as a business telephone number, contained in a record that is filed; and

(6) A record obtained by the administrator through a designee of the administrator that a rule or order under this chapter determines has been:

(A) Expunged from the administrator’s records by the designee; or

(B) Determined to be nonpublic or nondisclosable by that designee if the administrator finds the determination to be in the public interest and for the protection of investors.

(c) Administrator discretion to disclose. If disclosure is for the purpose of a civil, administrative, or criminal investigation, action, or proceeding or to a person specified in Section 75-71-608(a), the administrator may disclose a record obtained in connection with an audit or inspection under Section 75-71-411(d) or a record obtained in connection with an investigation under Section 75-71-602.