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This entry was published on 2014-09-22
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SECTION 899-H
Required form of contract
General Business (GBS) CHAPTER 20, ARTICLE 39-E
§ 899-h. Required form of contract. 1. An agency contract shall be in
a record, signed or otherwise authenticated by the parties.

2. An agency contract shall state or contain:

(a) 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;

(b) 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;

(c) a description of any expenses that the student-athlete agrees to
reimburse;

(d) a description of the services to be provided to the
student-athlete;

(e) the duration of the contract; and

(f) the date of execution.

3. 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 5 DAYS AFTER SIGNING IT.
CANCELLATION OF THIS CONTRACT MAY NOT REINSTATE YOUR ELIGIBILITY.

4. 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 shall not be required to pay any
consideration under such contract or to return any consideration
received from the athlete agent to induce the student-athlete to enter
into the contract.

5. The athlete agent shall give a record of the signed or otherwise
authenticated agency contract to the student-athlete at the time of
execution.