398.482 - Required contents of contract; contract void if does not contain required warning; athlete’s agent required to give record of contract to student athlete.
398.482 Required contents of contract; contract void if does not contain required warning; athlete’s agent required to give record of contract to student athlete.
1. A contract of agency must be in a record signed or otherwise authenticated by the parties.
2. The contract must state or contain:
(a) The amount of and method of calculating the consideration to be paid by the student athlete for services to be provided by the athlete’s agent under the contract and any other consideration the agent has received or will receive from any other source for entering into the contract or providing the services;
(b) The name of any person not listed in the agent’s application for registration or renewal of registration who will be compensated because the student athlete signed the contract;
(c) A description of any expenses that the student athlete agrees to reimburse;
(d) A description of the services to be provided to the student athlete;
(e) The duration of the contract; and
(f) The date of execution.
3. The contract must contain, in close proximity to the signature of the student athlete, a conspicuous notice in boldface capital letters:
WARNING TO STUDENT ATHLETE
IF YOU SIGN THIS CONTRACT:
(1) YOU WILL 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’S AGENT MUST NOTIFY THE 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. A contract of agency which does not contain the required warning is void and unenforceable. The student athlete need not pay any consideration under it or return any consideration received from the athlete’s agent to induce the student athlete to enter into it.
5. The athlete’s agent shall give a record of the signed or otherwise authenticated contract to the student athlete at the time of execution.
(Added to NRS by 1989, 812; A 2001, 1305)—(Substituted in revision for NRS 398.095)