1. An agency contract shall be in a record signed by the parties. 2. An agency contract shall state or contain: (1) A statement that the athlete agent is registered as an athlete agent in this state and a list of any other states in which the agent is registered as an athlete agent; (2) 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; (3) The name of any person not listed in the application for registration or renewal who will be compensated because the student athlete signed the agency contract; (4) A description of any expenses that the student athlete agrees to reimburse; (5) A description of the services to be provided to the student athlete; (6) The duration of the contract; and (7) 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: 4. An agency contract shall be accompanied by a separate record signed by the student athlete or, if the student athlete is a minor, the parent or guardian of the student athlete acknowledging that signing the contract may result in the loss of the student athlete's eligibility to participate in the student athlete's sport. 5. An agency contract that does not conform to this section is voidable by the student athlete or, if the student athlete is a minor, by the parent or guardian of the student athlete. If the contract is voided, any consideration received by the student athlete from the athlete agent under the contract to induce entering into the contract is not required to be returned. 6. The athlete agent shall give a copy of the signed agency contract to the student athlete or, if the student athlete is a minor, to the parent or guardian of the student athlete. 7. If a student athlete is a minor, an agency contract shall be signed by the parent or guardian of the minor, and the notice required by subsection 3 of this section shall be revised accordingly.
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