436.242. Contract requirements and content. - Missouri Statutes

Contract requirements and content.

436.242. 1. An agency contract must be in a record signed by theparties.

2. An agency contract must state or contain:

(1) The amount and method of calculating the consideration to be paidby the student athlete for services to be provided by the athlete agentunder the contract and any other consideration the athlete agent hasreceived or will receive from any other source for entering into thecontract or for providing the services;

(2) The name of any person not listed in the application forregistration or renewal who will be compensated because the student athletesigned the agency contract;

(3) A description of any expenses that the student athlete agrees toreimburse;

(4) A description of the services to be provided to the studentathlete;

(5) The duration of the contract; and

(6) The date of execution.

3. An agency contract shall contain in close proximity to thesignature of the student athlete a conspicuous notice in boldface type incapital letters stating:

"WARNING TO STUDENT ATHLETE IF YOU SIGN THIS CONTRACT:

(1) YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT ATHLETE INYOUR SPORT;

(2) BOTH YOU AND YOUR ATHLETE AGENT ARE REQUIRED TO TELL YOURATHLETIC DIRECTOR, IF YOU HAVE AN ATHLETIC DIRECTOR, WITHIN 72 HOURS AFTERENTERING INTO AN AGENCY CONTRACT; AND

(3) YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT.CANCELLATION OF THE CONTRACT MAY NOT REINSTATE YOUR ELIGIBILITY.".

4. An agency contract that does not conform to this section isvoidable by the student athlete.

5. The athlete agent shall give a copy of the signed agency contractto the student athlete at the time of signing.

(L. 2004 S.B. 1122)