(a) An association shall maintain records regarding the management and operation of the racetrack for which the association is licensed.(b) The records must be maintained on the association grounds.(c) Not later than June 15 of each year, an association shall submit audited financial statements to the Commission regarding the management and operation of the racetrack. The executive secretary may prescribe a form on which the financial information must be submitted to the Commission.(d) The executive secretary may require an association to submit a balance sheet and profit and loss statements, not later than five business days after making the request, to determine whether the association continues to be financially viable and capable of performing the duties of an association.