(1) An agency contract must be in a record signed by the parties.
(2) An agency contract must state or contain:
(a) The amount and method of calculating the consideration to be paid by the student-athlete for services to be provided by the athlete agent under the contract and any other consideration the athlete agent has received or will receive from any other source for entering into the contract or for providing the services;
(b) The name of any person other than the athlete agent who will be compensated because the student-athlete signed the agency contract;
(c) A description of any expenses that the student-athlete agrees to reimburse;
(d) A description of the services to be provided to the student-athlete;
(e) The duration of the contract; and
(f) The date of execution.
(3) An agency contract must contain, in close proximity to the signature of the student-athlete, a conspicuous notice in boldface type in capital letters stating:
[2002 c 131 § 7.]