Utah Code 58-87-304. Required records

58-87-304. Required records.

(1)

An athlete agent shall create and retain for five years records of the following:

Terms Used In Utah Code 58-87-304

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 Utah Code 58-87-102
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 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 athlete by providing assistance with bills, payments, contracts, or taxes; or

(iii)

in anticipation of representing a student athlete for a purpose related to the athlete's participation in athletics:

(A)	gives consideration to the student athlete or another person;

(B)	serves the 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 athlete by providing assistance with bills, payments, contracts, or taxes. See Utah Code 58-87-102

Contract: A legal written agreement that becomes binding when signed.

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 Utah Code 58-87-102

(a)

the name and address of each individual represented by the agent;

(b)	each agency contract entered into by the agent; and

(c)	the direct costs incurred by the agent in the recruitment or solicitation of each student athlete to enter into an agency contract.

(2)	Records described in Subsection (1) are open to inspection by the division during normal business hours.

Renumbered and Amended by Chapter 225, 2017 General Session

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