[ 481E-12] Required records. (a) An athlete agent shall retain the following records for a period of five years:
Terms Used In Hawaii Revised Statutes 481E-12
- Agency contract: means an agreement in which a student-athlete authorizes a person to negotiate or solicit on behalf of the student-athlete a professional-sports-services contract or an endorsement contract. See Hawaii Revised Statutes 481E-1
- Athlete agent: means an individual who enters into an agency contract with a student-athlete or, directly or indirectly, recruits or solicits a student-athlete to enter into an agency contract. See Hawaii Revised Statutes 481E-1
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 481E-1
- Student-athlete: means an individual who engages in, is eligible to engage in, or may be eligible in the future to engage in, any intercollegiate sport. See Hawaii Revised Statutes 481E-1
(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 by subsection (a) to be retained shall be open to inspection by the director during normal business hours.