(1) A student-athlete or, if the student -athlete is a minor, the parent or guardian of the student-athlete may cancel an agency contract by giving notice of the cancellation to the athlete agent in a record within fourteen (14) days after the contract is signed. (2) A student-athlete or, if the student -athlete is a minor, the parent or guardian of the student-athlete may not waive the right to cancel an agency contract. (3) If a student -athlete, parent, or guardian cancels 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.
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