(A) An athlete agent shall retain the following records for a period of five years:
(1) the name and address of each person represented by the athlete agent;
(2) an agency contract entered into by the athlete agent; and
(3) direct costs incurred by the athlete agent in the recruitment or solicitation of a student athlete to enter into an agency contract.
(B) Records retained pursuant to subsection (A) are open to inspection by the Department of Consumer Affairs during normal business hours.