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§5-74.1-10  Required form of contract. –


Published: 2015

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TITLE 5

Businesses and Professions

CHAPTER 5-74.1

Uniform Athlete Agents Act

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 authenticated

by the parties.



   (b) An agency contract must state or contain:



   (1) 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;



   (2) 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;



   (3) A description of any expenses that the student athlete

agrees to reimburse;



   (4) A description of the services provided to the student

athlete;



   (5) The duration of the contract; and



   (6) The date of execution.



   (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:



   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 seventy-two (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 fourteen (14) days

after signing it. Cancellation of this contract may not reinstate your

eligibility.



   (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 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.



   (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 of Section.

(P.L. 2008, ch. 246, § 2.)