§ 5-74.1-10 - Required form of contract.
SECTION 5-74.1-10
§ 5-74.1-10 Required form of contract.– (a) An agency contract must be in a record, signed or otherwise authenticatedby the parties.
(b) An agency contract must state or contain:
(1) The amount and method of calculating the consideration tobe paid by the student-athlete for services to be provided by the athlete agentunder the contract and any other consideration the athlete agent has receivedor will receive from any other source for entering into the contract or forproviding the services;
(2) The name of any person not listed in the application forregistration or renewal of registration who will be compensated because thestudent athlete signed the agency contract;
(3) A description of any expenses that the student athleteagrees to reimburse;
(4) A description of the services provided to the studentathlete;
(5) The duration of the contract; and
(6) The date of execution.
(c) An agency contract must contain, in close proximity tothe signature of the student athlete, a conspicuous notice in boldface type incapital letters stating:
WARNING TO STUDENT ATHLETE
If you sign this contract:
(1) You may lose your eligibility to compete as a studentathlete in your sport;
(2) If you have an athletic director, within seventy-two (72)hours after entering into this contract, both you and your athlete agent mustnotify your athletic director; and
(3) You may cancel this contract within fourteen (14) daysafter signing it. Cancellation of this contract may not reinstate youreligibility.
(d) An agency contract that does not conform to this sectionis voidable by the student athlete. If a student athlete voids an agencycontract, the student athlete is not required to pay any consideration underthe contract or to return any consideration received from the athlete agent toinduce the student athlete to enter into the contract.
(e) The athlete agent shall give a record of the signed orotherwise authenticated agency contract to the student athlete at the time ofexecution.