[§481E-9]  Required form of contract.  (a) 

An agency contract shall be in a record, signed or otherwise authenticated by

the parties.

     (b)  An agency contract shall 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 to be provided to

the student-athlete;

     (5)  The duration of the contract; and

     (6)  The date of execution.

     (c)  An agency contract shall 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 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 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. [L 2007, c 248, pt of §2]