Every advisory organization shall adopt bylaws or rules and regulations which will:

1. (a) Permit any person or entity in the business of title insurance in this state to become a member at a reasonable cost and without discrimination;
2. (b) Permit any member to withdraw at any time upon written notice;
3. (c) Prohibit any act or agreement by which any person or entity is restrained from lawfully engaging in the business of title insurance in this state;
4. (d) Require that the commissioner be given prompt notification of every change in any of the items described in subdivisions (a), (b), and (c) of Section 12402.