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9A.110 - REQUIRED FORM OF CONTRACT.

        9A.110  REQUIRED FORM OF CONTRACT.
         1.  An agency contract shall be in a record, signed, or otherwise
      authenticated by the parties.
         2.  An agency contract shall contain the following information:
         a.  The amount and method of calculating the consideration to
      be paid by the student athlete for services to be provided by the
      athlete agent under the contract and any other consideration the
      athlete agent has received or will receive from any other source for
      entering into the contract or for providing the services.
         b.  The name of any person not listed in the application for
      registration or renewal of registration who will be compensated
      because the student athlete signed the agency contract.
         c.  The description of any expenses that the student athlete
      agrees to reimburse.
         d.  The description of the services to be provided to the
      student athlete.
         e.  The duration of the contract.
         f.  The date of execution of the contract.
         3.  An agency contract must contain, in close proximity to the
      signature of the student athlete, a conspicuous notice in boldface
      type in capital letters stating:

                            WARNING TO STUDENT ATHLETE

         IF YOU SIGN THIS CONTRACT:
         (1)  YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT ATHLETE
      IN YOUR SPORT;

         (2)  IF YOU HAVE AN ATHLETIC DIRECTOR, WITHIN 72 HOURS AFTER
      ENTERING INTO THIS CONTRACT, BOTH YOU AND YOUR ATHLETE AGENT MUST
      NOTIFY YOUR ATHLETIC DIRECTOR; AND

         (3)  YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT.
      CANCELLATION OF THIS CONTRACT MAY NOT REINSTATE YOUR ELIGIBILITY.

         4.  An agency contract that does not conform to this section is
      voidable by the student athlete.  If a student athlete voids an
      agency contract, the student athlete is not required to pay any
      consideration under the contract or to return any consideration
      received from the athlete agent to induce the student athlete to
      enter into the contract.
         5.  The athlete agent shall give a record of the signed or
      otherwise authenticated agency contract to the student athlete at the
      time of execution of the contract.  

         Section History: Recent Form

         2009 Acts, ch 33, §10