All reports, information or records compiled by the board or the department pursuant to this subchapter regarding an applicant, licensee, owner or key executive are confidential, except that the board may disclose any confidential information as follows.

1.__Hearings or proceedings.__Confidential information may be released in an adjudicatory hearing or informal conference before the board or in any subsequent formal proceeding to which the information is relevant.

2.__Consent agreements or settlements. Confidential information may be released in a consent agreement or other written settlement when the information constitutes or pertains to the basis of board action.

3.__During investigation.__All complaints and investigative records of the board are confidential during the pendency of an investigation. Those records become public records upon the conclusion of an investigation unless confidentiality is required by some other provision of law. For purposes of this subsection, an investigation is concluded when:

A.__A notice of an adjudicatory hearing as defined under Title 5, chapter 375, subchapter 1 has been issued;

B.__A consent agreement has been executed; or

C.__A letter of dismissal has been issued or the investigation has otherwise been closed.

4.__Exceptions.__Notwithstanding subsection 3, during the pendency of an investigation, a complaint or investigative record may be disclosed:

A.__To the department;

B.__To other state or federal agencies when the record contains evidence of possible violations of laws, rules or regulations enforced by those agencies or as the board or the board's designee considers appropriate;

C.__When and to the extent considered necessary by the director to avoid imminent and serious harm.__The authority of the director to make such a disclosure may not be delegated;