A. An athlete agent shall retain the following records for a period of five years:

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(1)     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 to enter into an agency contract.

B. Records required pursuant to Subsection A of this section to be retained are open to inspection by the secretary during normal business hours.