(1) A third-party account administrator shall maintain the following records for at least five years:
(a) All contracts the third-party account administrator has entered into with debtors and debt adjusters;
(b) Account statements identifying and itemizing deposits, transfers, disbursements, and fees; and
(c) Any other records required in rule by the director.
(2) All records maintained by the third-party account administrator are open to inspection by the director or the director's designee.