Sec. 12. (a) The association is subject to examination and regulation by the commissioner. The association shall annually submit to the commissioner, not later than one hundred twenty (120) days after the end of the association's fiscal year, a financial report in a form approved by the commissioner and a report of its activities during the preceding fiscal year.
(b) Upon the request of a member insurer, the association shall provide to the member insurer a copy of the reports described in subsection (a).