(a) The department is authorized to:

(1) Participate in the nation-wide multistate licensing system and registry in order to facilitate the sharing of information and standardization of the registration processes for litigation financiers by electronic or other means;

(2) Enter into operating agreements, information sharing agreements, interstate cooperative agreements, and other contracts necessary for the department’s participation in the nation-wide multistate licensing system and registry;

(3) Request that the nation-wide multistate licensing system and registry adopt an appropriate privacy, data security, and security breach notification policy that is in full compliance with existing state and federal law;

(4) Disclose or cause to be disclosed without liability via the nation-wide multistate licensing system and registry registration information, including, but not limited to, violations of this chapter and enforcement actions;

(5) Establish and adopt, by rule or regulation, requirements for participation by registrants in the nation-wide multistate licensing system and registry upon the department’s determination that each new or amended requirement is consistent with both the public interest and the purposes of this chapter; and

(6) Pay all fees received from applicants and registrants related to registrations to the Office of the State Treasurer; provided, however, that the department may net such fees to recover the cost of participation in the nation-wide multistate licensing system and registry.

(b) Irrespective of its participation in the nation-wide multistate licensing system and registry, the department retains full and exclusive authority over determinations whether to grant registrations to litigation financiers under this chapter. Nothing in this Code section shall be construed to reduce this authority.

(c) Applicants and registrants shall be required to pay any charges associated with their utilization of the nation-wide multistate licensing system and registry.