Oklahoma § 70-820.10 - Required form of agency contract

§ 70-820.10. Required form of agency contract

REQUIRED FORM OF AGENCY CONTRACT.

A. An agency contract must be in a record signed by the

parties.

B. An agency contract must contain:

1. A statement that the athlete 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;

2. 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;

3. 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;

4. A description of any expenses the athlete agrees to

reimburse;

5. A description of the services to be provided to the athlete;

Oklahoma Statutes - Title 70. Schools

6. The duration of the contract; and

7. The date of execution.

C. Subject to subsection G of this section, an agency contract

must contain a conspicuous notice in boldface type and in

substantially the following form:

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 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. 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.

F. 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 acknowledgement required by subsection D

of this section.

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 of this section must be revised

accordingly.

Added by Laws 2021, c. 559, § 10, emerg. eff. May 28, 2021.