15 U.S. Code § 7802 - Regulation of unfair and deceptive acts and practices in connection with the contact between an athlete agent and a student athlete

(a) Conduct prohibited
It is unlawful for an athlete agent to—
(1) directly or indirectly recruit or solicit a student athlete to enter into an agency contract, by—
(A) giving any false or misleading information or making a false promise or representation; or
(B) providing anything of value to a student athlete or anyone associated with the student athlete before the student athlete enters into an agency contract, including any consideration in the form of a loan, or acting in the capacity of a guarantor or co-guarantor for any debt;
(2) enter into an agency contract with a student athlete without providing the student athlete with the disclosure document described in subsection (b); or
(3) predate or postdate an agency contract.
(b) Required disclosure by athlete agents to student athletes
(1) In general
In conjunction with the entering into of an agency contract, an athlete agent shall provide to the student athlete, or, if the student athlete is under the age of 18, to such student athlete’s parent or legal guardian, a disclosure document that meets the requirements of this subsection. Such disclosure document is separate from and in addition to any disclosure which may be required under State law.
(2) Signature of student athlete
The disclosure document must be signed by the student athlete, or, if the student athlete is under the age of 18, by such student athlete’s parent or legal guardian, prior to entering into the agency contract.
(3) Required language
The disclosure document must contain, in close proximity to the signature of the student athlete, or, if the student athlete is under the age of 18, the signature of such student athlete’s parent or legal guardian, a conspicuous notice in boldface type stating: “Warning to Student Athlete: If you agree orally or in writing to be represented by an agent now or in the future you may lose your eligibility to compete as a student athlete in your sport. Within 72 hours after entering into this contract or before the next athletic event in which you are eligible to participate, whichever occurs first, both you and the agent by whom you are agreeing to be represented must notify the athletic director of the educational institution at which you are enrolled, or other individual responsible for athletic programs at such educational institution, that you have entered into an agency contract.”

Source

(Pub. L. 108–304, § 3,Sept. 24, 2004, 118 Stat. 1126.)

 

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