Oregon Revised Statutes Chapter 702 § 702.047 — Contract requirements

Contract requirements. (1) A written agency contract must be in a record, signed or otherwise authenticated by the parties. (2) A written 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 not listed in the application for registration or renewal of registration who will be compensated because the student athlete or, if the athlete is a minor, the parent or guardian of the athlete signed the written 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; (f) The date of execution; and (g) 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. (3) Except where ORS 702.200 applies, a written agency contract must contain, in close proximity to the signature of the student athlete or, if the athlete is a minor, the signature of the parent or guardian of the athlete, a conspicuous notice in boldfaced type in capital letters stating: ______________________________________________________________________________ WARNING TO THE STUDENT ATHLETE: IF YOU OR YOUR PARENT OR GUARDIAN SIGNS THIS CONTRACT: (1) YOU MAY LOSE YOUR ELIGIBILITY TO COMPETE AS A STUDENT ATHLETE IN YOUR SPORT. (2) IF YOU HAVE AN ATHLETIC DIRECTOR, BOTH YOU AND YOUR ATHLETE AGENT MUST NOTIFY YOUR ATHLETIC DIRECTOR WITHIN 72 HOURS AFTER ENTERING INTO THIS CONTRACT, OR BEFORE YOU PARTICIPATE IN ANY INTERSCHOLASTIC OR INTERCOLLEGIATE SPORTS EVENT, WHICHEVER OCCURS FIRST, THAT YOU HAVE ENTERED INTO THIS CONTRACT AND PROVIDE THE NAME AND CONTACT INFORMATION OF THE ATHLETE AGENT. (3) YOU MAY CANCEL THIS CONTRACT WITHIN 14 DAYS AFTER SIGNING IT. CANCELLATION OF THIS CONTRACT MAY NOT REINSTATE YOUR ELIGIBILITY. ______________________________________________________________________________ (4) A written agency contract that does not conform to this section is voidable by the student athlete or, if the athlete is a minor, the parent or guardian of the athlete. 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. (5) The athlete agent shall give a record of the written agency contract to the student athlete or, if the athlete is a minor, to the parent or guardian of the athlete at the time of execution. (6) Except where ORS 702.200 applies, 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. (7) 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 as required by subsection (6) of this section. (8) If a student athlete is a minor, an agency contract must be signed by the parent or guardian of the athlete and the notice required by subsection (3) of this section must be revised accordingly. [1999 c.1079 §9; 2005 c.525 §12; 2013 c.54 §6; 2017 c.113 §5; 2021 c.422 §4]