Unless disclosure is otherwise required by law, the Board may keep all analyses, forecasts, negotiations, papers, records, recommendations, and reports closed to public inspection until:
(1) the release of the information would not adversely affect the negotiation for or market price of a security; and
(2) completion of a proposed purchase or program of purchases leading to a cumulative position in a security; the making, sale, or prepayment of a loan; any proposed sale or program of sales leading to the elimination of a position in a security; or the purchase or sale of real estate.
(1985 Code, Art. 7, § 2-209) (Bill No. 88-96; Bill No. 90-01)