(a) (1) On June 30 of each year, or at the discretion of the Division Director or as circumstances warrant, the Division Director shall provide a written report to the Governor, the President of the Senate, the Speaker of the House of Delegates, and the Secretary of Labor on:
(i) The operations of the Division Director’s office;
(ii) The condition of the savings and loan industry, including any violations of this subtitle or Title 9 of this article and the regulations adopted under those titles; and
(iii) As to the laws that the Division Director administers, amendments that the Division Director considers desirable.
(2) The report is confidential and is not subject to disclosure in accordance with the provisions of Title 4, Subtitle 3, Part III of the General Provisions Article.
(b) (1) On June 30 of each year, the Division Director shall submit a report to the General Assembly in accordance with § 2–1257 of the State Government Article describing:
(i) The operations of the Division Director’s office;
(ii) The general condition of the savings and loan industry; and
(iii) Any recommended legislative changes.
(2) The report may include a summary of final enforcement actions taken by the Division Director but may not include pending investigations of violations of law reported under subsection (a) of this section.