(1) An athlete agent shall retain the following records for a period of five (5) years: The name and address of each individual represented by the athlete agent;
(2) Any agency contract entered into by the athlete agent; and
(3) Any direct costs incurred by the athlete agent in the recruitment or solicitation of a student-athlete.
(4) Records required by subsection (1) to be retained are open to inspection by the Secretary of State during normal business hours.