Sec. 11. (a) An athlete agent shall retain the following records for a period of five (5) years:
(1) The name and address of each individual represented by the athlete agent.
(2) A copy of any agency contract entered into by the athlete agent.
(3) A record of any direct costs incurred by the athlete agent in the recruitment or solicitation of a student athlete to enter into an agency contract.
(b) Records required by subsection (a) to be retained are open to inspection by the attorney general during normal business hours.