SECTIONS 18897-18897.5 - California Statutes

BUSINESS AND PROFESSIONS CODE

SECTION 18897-18897.5

18897. Every agent contract shall be in writing and shall include a
description of the types of services to be performed and a schedule
of the fees to be charged under the contract.

18897.1. The following shall be printed on the first page of every
agent contract in boldface type at least two points larger than any
other type on the page: "This athlete agent has current public
disclosure information on file with the California Secretary of State
as required by the Miller-Ayala Athlete Agents Act, Chapter 2.5
(commencing with Section 18895) of Division 8 of the Business and
Professions Code, which also includes other protections for athletes.
Filing of the required information does not imply approval by the
California Secretary of State of the terms and conditions of this
agent contract or the competence of the athlete agent."

18897.2. A trust fund shall be established when an athlete agent is
the recipient of the athlete's salary. An athlete agent who receives
any payment on behalf of the athlete shall immediately deposit the
payment in a trust fund account maintained by the athlete agent in a
state or federally chartered financial institution.

18897.23. (a) Every athlete agent shall maintain records which
include the following information:
(1) The name and address of each person employing the athlete
agent.
(2) The amount of fee received from that person.
(b) No athlete agent or athlete agent's representative or employee
shall make any false entry in the records. All records required by
this section shall be kept for at least seven years.
(c) This section does not apply to any business of the athlete
agent other than the athlete agent business.

18897.27. No athlete agent shall have an ownership or financial
interest in any entity that is directly involved in the same sport as
a person with whom the athlete agent has entered into an agreement
contract, for whom the athlete agent is attempting to negotiate an
endorsement contract, financial services contract or professional
sports service contract, or for whom the athlete agent provides
advice concerning potential or actual employment as a professional
athlete.

18897.27. No athlete agent shall have an ownership or financial
interest in any entity that is directly involved in the same sport as
a person with whom the athlete agent has entered into an agent
contract, or for whom the athlete agent is attempting to negotiate an
endorsement contract, financial services contract, or professional
sports service contract, or for whom the athlete agent provides
advice concerning potential or actual employment as a professional
athlete.

18897.3. If an athlete agent or athlete agent's representative or
employee provides financial services to a professional athlete or
student athlete or advises the athlete concerning investment of
funds, the athlete agent shall disclose to the athlete any ownership
interest the athlete agent, representative or employee has in any
entity regarding which the athlete agent, representative or employee
is providing financial services or giving advice, and any commission
the athlete agent, representative or employee will receive from the
athlete's investment.

18897.33. No athlete agent shall knowingly enter into a contract
containing any term or condition that, if complied with, would be in
violation of law, or attempt to fill an order for help to be employed
in violation of the law.

18897.37. No athlete agent or athlete agent's representative or
employee shall publish or cause to be published any false,
fraudulent, or misleading information, representation, notice, or
advertisement. No athlete agent or athlete agent's representative or
employee shall give any false information or make any false promises
or representations concerning any employment to any person.

18897.4. All forms of advertising used by an athlete agent shall
include the name and business address of the athlete agent.

18897.43. No athlete agent shall knowingly secure employment for
persons in any place where a strike, lockout, or other labor trouble
exists, without notifying the person of those conditions.

18897.47. No athlete agent shall divide fees with or receive
compensation from a professional sports league, team, or other
organization or its representatives or employee, or offer or allow
any full-time employee of a union or players' association connected
with professional sports to own or participate in any of the revenues
of the athlete agent.

18897.5. No athlete agent shall negotiate or enter into any
postdated agent contract, endorsement contract or professional sports
services contract or any agent contract, endorsement contract or
professional sports services contract that purports to or takes
effect at a future time.