1. (A) An agency contract must be in a record that is signed or otherwise authenticated by the parties.

2. (B) An agency contract must include:

   1. (1) the amount and method of calculating the consideration to be paid by the student athlete for services provided by the athlete agent under the contract and other consideration the athlete agent receives from another source for entering into the contract or for providing the services;
   2. (2) the name of a person not listed in the application for registration or renewal of registration to be compensated because the student athlete signed the agency contract;
   3. (3) a description of expenses the student athlete agrees to reimburse;
   4. (4) a description of the services to be provided to the student athlete;
   5. (5) the duration of the contract; and
   6. (6) the date of execution.

3. (C) 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:

   1. (1) YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT ATHLETE IN YOUR SPORT;
   2. (2) IF YOU HAVE AN ATHLETIC DIRECTOR, BOTH YOU AND YOUR ATHLETE AGENT MUST NOTIFY YOUR ATHLETIC DIRECTOR WITHIN 72 HOURS AFTER ENTERING INTO THIS CONTRACT; AND
   3. (3) YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT. CANCELLATION OF THIS CONTRACT MAY NOT REINSTATE YOUR ELIGIBILITY."

   "WARNING TO STUDENT ATHLETE

   IF YOU SIGN THIS CONTRACT:

4. (D) 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 consideration under the contract or to return consideration received from the athlete agent to induce the student athlete to enter into the contract.
5. (E) The athlete agent shall give a record of the signed or otherwise authenticated agency contract to the student athlete at the time of execution.

HISTORY: 2004 Act No. 300, Section 1, eff September 8, 2004.