Either party to this article may withhold or refuse to exchange tax information:
(a) If disclosure of such information would be detrimental to its ability to enforce or to administer its tax laws, or to the assessment and collection of taxes; or
(b) If disclosure of such tax information would interfere with any pending audit or litigation; or
(c) If the security measures practiced by the requesting party are insufficient to ensure the confidentiality of the tax information requested; or
(d) If the tax information requested relates to a person or business entity which has not complied with the business registration requirements set forth in W. Va. Code 11- 21-1 et seq.
(Agreement dated 11-19-92.)