Virginia Code 54.1-537: Required records
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A. An athlete agent shall create and retain for five years records of the following:
Terms Used In Virginia Code 54.1-537
- Agency contract: means an agreement in which a student-athlete authorizes a person to negotiate or solicit on behalf of the student-athlete a professional sports services contract or endorsement contract. See Virginia Code 54.1-526
- Athlete agent: means an individual, whether or not registered under this chapter, who (i) directly or indirectly recruits or solicits a student-athlete to enter into an agency contract or, for compensation, procures employment or offers, promises, attempts, or negotiates to obtain employment for a student-athlete as a professional athlete or member of a professional sports team or organization; (ii) for compensation or in anticipation of compensation related to a student-athlete's participation in athletics (a) serves the student-athlete in an advisory capacity on a matter related to finances, business pursuits, or career management decisions, unless the individual is an employee of an educational institution acting exclusively as an employee of the institution for the benefit of the institution, or (b) manages the business affairs of the student-athlete by providing assistance with bills, payments, contracts, or taxes; (iii) in anticipation of representing a student-athlete for a purpose related to the student-athlete's participation in athletics (a) gives consideration to the student-athlete or another person, (b) serves the student-athlete in an advisory capacity on a matter related to finances, business pursuits, or career management decisions, or (c) manages the business affairs of the student-athlete by providing assistance with bills, payments, contracts, or taxes; or (iv) represents a student-athlete in connection with issues related to name, image, or likeness, including negotiating, securing, obtaining, arranging, and managing name, image, or likeness opportunities. See Virginia Code 54.1-526
- Contract: A legal written agreement that becomes binding when signed.
- Director: means the Director of the Department of Professional and Occupational Regulation. See Virginia Code 54.1-526
- Student-athlete: means an individual who is eligible to attend an educational institution and engages in, is eligible to engage in, or may be eligible in the future to engage in any interscholastic or intercollegiate sport. See Virginia Code 54.1-526
1. The name and address of each student-athlete represented by the agent;
2. Each agency contract entered into by the agent; and
3. The direct costs incurred by the agent in the recruitment or solicitation of each student-athlete to enter into an agency contract.
B. Records described in subsection A shall be open to inspection by the Director during normal business hours.
2020, c. 481, § 54.1-530.