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.)