(c) Reporting. Each commercial gizzard shad contract licensee must keep accurate records of all gizzard shad numbers harvested, total weight harvested, numbers sold, weight sold, disposition of gizzard shad sold, and monetary value of all gizzard shad or parts thereof sold. These records shall be made available for inspection at any time by an agent of the Department. In addition, reporting procedures are as follows:

1. (1) Monthly reports. All contract licensees shall send to the Department by the 15th of each month a true and accurate report of all gizzard shad harvested and gizzard shad or parts thereof sold during the previous month.
2. (2) Fee. All contract licensees will submit to the Department by the 15th of each month 2 percent of the total sale value of all gizzard shad or parts thereof sold during the previous month.
3. (3) Annual reports. All contract licensees shall send to the Department by January 15th, a true and accurate summary of all gizzard shad harvested and gizzard shad or parts thereof sold during the previous year.