9-15.2-09. Required form of agency contract

9-15.2-09. Required form of agency contract

1. An agency contract must be in a record signed by the parties.

2. An agency contract must contain:

a. 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;

b. The amount and method of calculating the consideration to be paid by the

student-athlete for services to be provided by the agent under the contract and

any other consideration the agent has received or will receive from any other

source for entering into the contract or providing the services;

c. The name of any person not listed in the agent's application for registration or

renewal of registration which will be compensated because the athlete signed the

contract;

d. A description of any expenses the athlete agrees to reimburse;

e. A description of the services to be provided to the athlete;

f. The duration of the contract; and

g. The date of execution.

3. Subject to subsection 7, an agency contract must contain a conspicuous notice in

boldface type and in substantially the following form:

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 SIGNING

THIS CONTRACT OR BEFORE THE NEXT SCHEDULED ATHLETIC EVENT IN

WHICH YOU PARTICIPATE, WHICHEVER OCCURS FIRST, BOTH YOU AND

YOUR ATHLETE AGENT MUST NOTIFY YOUR ATHLETIC DIRECTOR THAT

YOU HAVE ENTERED INTO THIS CONTRACT AND PROVIDE THE NAME AND

CONTACT INFORMATION OF THE ATHLETE AGENT; AND

(3) YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT.

CANCELLATION OF THIS CONTRACT MAY NOT REINSTATE YOUR

ELIGIBILITY AS A STUDENT-ATHLETE IN YOUR SPORT.

4. An agency contract must be accompanied by a separate record signed by the

student-athlete or, if the athlete is a minor, the parent or guardian of the athlete

acknowledging that signing the contract may result in the loss of the athlete's eligibility

to participate in the athlete's sport.

5. A student-athlete or, if the athlete is a minor, the parent or guardian of the athlete may

void an agency contract that does not conform to this section. If the contract is voided,

any consideration received from the athlete agent under the contract to induce

entering into the contract is not required to be returned.

6. At the time an agency contract is executed, the athlete agent shall give the

student-athlete or, if the athlete is a minor, the parent or guardian of the athlete a copy

in a record of the contract and the separate acknowledgment required by subsection 4.

7. If a student-athlete is a minor, an agency contract must be signed by the parent or

guardian of the minor and the notice required by subsection 3 must be revised

accordingly.