Subd. 1. Retention.

An athlete agent must retain the following records for a period of five years:

1. (1) the name and address of each individual represented by the athlete agent;
2. (2) any agency contract entered into by the athlete agent; and
3. (3) any direct costs incurred by the athlete agent in the recruitment or solicitation of a student athlete to enter into an agency contract.

Subd. 2. Inspection rights.

Records required by subdivision 1 to be retained are open to inspection by the commissioner during normal business hours.