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

Terms Used In Iowa Code 9A.110

  • Agency contract: means an agreement in which a student athlete authorizes a person to negotiate or solicit on behalf of the athlete a professional sports services contract or an endorsement contract. See Iowa Code 9A.102
  • Athlete agent: means an individual, whether or not registered under this chapter, who does any of the following:
     (1) 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. See Iowa Code 9A.102
  • Athletic director: means the individual responsible for administering the overall athletic program of an educational institution or, if an educational institution has separately administered athletic programs for male students and female students, the athletic program for males or the athletic program for females, as appropriate. See Iowa Code 9A.102
  • Contract: A legal written agreement that becomes binding when signed.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • 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.
  • Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Iowa Code 9A.102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Iowa Code 9A.102
  • Registration: means registration as an athlete agent pursuant to this chapter. See Iowa Code 9A.102
  • Sign: means , with present intent to authenticate or adopt a record, doing any of the following:
     a. See Iowa Code 9A.102
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Iowa Code 9A.102
  • 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 Iowa Code 9A.102
 2. An agency contract shall contain all of the following information:

 a. A statement that the 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.
 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 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, 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 shall be revised accordingly.
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