§ 25-5.2-2-8 — Agency contracts

Indiana § 25-5.2-2-8

• Jurisdiction: Indiana
• Title 25: PROFESSIONS AND OCCUPATIONS
• Art. 5.2: ATHLETE AGENTS
• Ch. 2: Athlete Agent Registration

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(a) An agency contract must be in a record,
signed or otherwise authenticated by the parties.
(b) An agency contract must contain the following:
(1) A statement that the athlete agent is registered as an athlete
agent in Indiana 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 agent's application for
registration or renewal of registration who will be compensated
because the student athlete signed the agency contract.
(4) A description of any expenses that the athlete agrees to
reimburse.
(5) A description of the services to be provided to the athlete.
(6) The duration of the contract.
(7) The date of execution.
(c) Subject to subsection (g), an agency contract must 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, NOT LATER
THAN SEVENTY-TWO (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
FOURTEEN (14) DAYS AFTER SIGNING IT.
CANCELLATION OF THIS CONTRACT MAY NOT
REINSTATE YOUR ELIGIBILITY AS A STUDENT ATHLETE
IN YOUR SPORT.
(d) 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.
(e) An agency contract that does not conform to this section is
voidable by the student athlete, or if the student is a minor, the parent
or guardian of the student. If a student athlete, or the parent or guardian
of the student, 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.
(f) At the time an agency contract is executed, the athlete agent shall
give a record of the signed or otherwise authenticated agency contract,
and the separate acknowledgment under subsection (d), to the student
athlete, or, if the athlete is a minor, the parent or guardian of the
athlete, at the time of execution.
(g) 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 (c) must be revised accordingly.

Legislative History

As added by P.L.54-2001, SEC.5. Amended by P.L.158-2013, SEC.279; P.L.95-2019, SEC.5.