(1) Any person who engages in a regulated transaction, unless excepted under the provisions of Subsections 58-37c-8(3) and (4), shall submit a report with respect to such transaction and shall maintain records of inventories in accordance with rules adopted by the division.

(2) The division shall provide reporting forms upon which regulated transactions shall be reported.

(3) The division shall furnish copies of reports of transactions under this section to appropriate law enforcement agencies.

(4) The division shall adopt rules regulating: (a) records which shall be maintained and reports which shall be submitted by regulated distributors and regulated purchasers with respect to listed controlled substance precursors obtained, distributed, and held in inventory; (b) records which shall be maintained and reports which shall be submitted by regulated distributors and regulated purchasers with respect to extraordinary or unusual regulated transactions and a requirement that in such cases the report must be received at least three working days prior to transfer of the listed controlled substance precursor; (c) identification which must be presented by a purchaser of any listed controlled substance precursor before the sale or transfer can be completed and recordkeeping requirements related to such identification presented; (d) filing by each licensee the identification of all locations where any listed controlled substance precursor is held in inventory or stored and amending such filing when any change in location is made; (e) reports and actions which must be taken by a regulated distributor or regulated purchaser in the event of any theft, loss, or shortage of a listed controlled substance precursor; (f) reports and actions which must be taken by a regulated distributor relating to a regulated transaction with an out-of-state purchaser; (g) reports and actions which must be taken by a regulated purchaser relating to a regulated transaction with an out-of-state distributor; and (h) regulated transactions to the extent such regulation is reasonable and necessary to protect the public health, safety, or welfare.

(a) records which shall be maintained and reports which shall be submitted by regulated distributors and regulated purchasers with respect to listed controlled substance precursors obtained, distributed, and held in inventory;

(b) records which shall be maintained and reports which shall be submitted by regulated distributors and regulated purchasers with respect to extraordinary or unusual regulated transactions and a requirement that in such cases the report must be received at least three working days prior to transfer of the listed controlled substance precursor;

(c) identification which must be presented by a purchaser of any listed controlled substance precursor before the sale or transfer can be completed and recordkeeping requirements related to such identification presented;

(d) filing by each licensee the identification of all locations where any listed controlled substance precursor is held in inventory or stored and amending such filing when any change in location is made;

(e) reports and actions which must be taken by a regulated distributor or regulated purchaser in the event of any theft, loss, or shortage of a listed controlled substance precursor;

(f) reports and actions which must be taken by a regulated distributor relating to a regulated transaction with an out-of-state purchaser;

(g) reports and actions which must be taken by a regulated purchaser relating to a regulated transaction with an out-of-state distributor; and

(h) regulated transactions to the extent such regulation is reasonable and necessary to protect the public health, safety, or welfare.

(5) A person who engages in a regulated transaction may not accept a driving privilege card issued in accordance with Section 53-3-207 as proof of identification as required under Subsection (4)(c).