Indiana Code 25-5.2-2-8. Agency contracts
(b) An agency contract must contain the following:
Terms Used In Indiana Code 25-5.2-2-8
- Contract: A legal written agreement that becomes binding when signed.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- minor: means a person less than eighteen (18) years of age. See Indiana Code 1-1-4-5
(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.
As added by P.L.54-2001, SEC.5. Amended by P.L.158-2013, SEC.279; P.L.95-2019, SEC.5.