(1) A credit report, a financial statement, and other information an applicant submits or requests to have submitted to the division to demonstrate financial responsibility in accordance with Section 58-55-205:
(a) is a protected record under Title 63G, Chapter 2, Government Records Access and Management Act; and
(b) notwithstanding Subsection (1)(a), may be considered by the commission in a public meeting, unless the owner of the information requests that the meeting be closed to the public in accordance with Title 52, Chapter 4, Open and Public Meetings Act.
(2) Notwithstanding the provisions of Title 63G, Chapter 2, Government Records Access and Management Act, a record described in Subsection (1) is not open for public inspection and is not subject to discovery in civil or administrative proceedings.