(a) A joint underwriting association shall maintain at the association’s principal administrative office adequate records of all transactions.
(b) The association shall maintain the records in accordance with prudent recognized industry standards of recordkeeping.

(c) The commissioner or the commissioner’s designated representative is entitled to access to records maintained under Subsection (a) for examination, audit, and inspection.
(d) Trade secrets, including the identity and addresses of policyholders and certificate holders, are confidential, except that the commissioner may use information otherwise confidential in proceedings instituted against an association.