180,62 Section 62. 440.995 (1) of the statutes is amended to read:

440.995 (1) A student athlete or, if the student athlete is a minor, the parent or guardian of the student athlete may cancel an agency contract by giving notice in a record of the cancellation to the athlete agent in a record within not later than 14 days after the contract is signed.

180,63 Section 63. 440.995 (2) of the statutes is amended to read:

440.995 (2) A student athlete or, if the student athlete is a minor, the parent or guardian of the student athlete may not waive the right to cancel an agency contract.

180,64 Section 64. 440.995 (3) of the statutes is amended to read:

440.995 (3) If a student athlete, parent, or guardian cancels an agency contract, the student athlete, parent, or guardian is not required to pay any consideration under the contract or to return any consideration received from the athlete agent to induce influence the student athlete to enter into the contract.

180,65 Section 65. 440.9955 (1) (intro.) of the statutes is amended to read:

440.9955 (1) (intro.) An athlete agent shall create and retain for 5 years all of the following records for a period of 5 years:

180,66 Section 66. 440.9955 (1) (b) of the statutes is amended to read:

440.9955 (1) (b) Any Each agency contract entered into by the athlete agent.

180,67 Section 67. 440.9955 (1) (c) of the statutes is amended to read:

440.9955 (1) (c) Any The direct costs incurred by the athlete agent in the recruitment or solicitation of a each student athlete to enter into an agency contract.

180,68 Section 68. 440.9955 (2) of the statutes is amended to read:

440.9955 (2) Records required by described in sub. (1) to be retained are open to inspection by the department during normal business hours. Upon demand, an athlete agent shall provide a copy of such a record to the department.

180,69 Section 69. 440.996 (1) (intro.) of the statutes is amended to read:

440.996 (1) (intro.) An athlete agent, with the intent to induce a student athlete to enter into an agency contract, may not intentionally do any of the following or encourage another individual to do or assist another individual in doing any of the following on behalf of the athlete agent:

180,69c Section 69c. 440.996 (1) (a) of the statutes is amended to read:

440.996 (1) (a) Give any a student athlete or, if the student athlete is a minor, a parent or guardian of the student athlete materially false or misleading information or make a materially false promise or representation with the intent to influence the student athlete, parent, or guardian to enter into an agency contract.

180,69g Section 69g. 440.996 (1) (b) of the statutes is renumbered 440.996 (1) (b) (intro.) and amended to read:

440.996 (1) (b) (intro.) Furnish anything a thing of value to a student athlete before the student athlete enters into the agency contract. or another individual, if to do so may result in the loss of the student athlete's eligibility to participate in the student athlete's sport, unless both of the following apply:

180,69n Section 69n. 440.996 (1) (b) 1. of the statutes is created to read:

440.996 (1) (b) 1. The athlete agent notifies the athletic director of the educational institution at which the student athlete is enrolled or at which the athlete agent has reasonable grounds to believe the student athlete intends to enroll, not later than 72 hours after furnishing the thing of value.

180,69r Section 69r. 440.996 (1) (b) 2. of the statutes is created to read:

440.996 (1) (b) 2. The student athlete or, if the student athlete is a minor, the parent or guardian of the student athlete acknowledges to the athlete agent in a record that receipt of the thing of value may result in the loss of the student athlete's eligibility to participate in the student athlete's sport.

180,69w Section 69w. 440.996 (1) (c) of the statutes is repealed.

180,70 Section 70. 440.996 (2) (intro.) of the statutes is amended to read:

440.996 (2) (intro.) An athlete agent may not intentionally do any of the following or encourage another individual to do or assist another individual in doing any of the following on behalf of the athlete agent:

180,71 Section 71. 440.996 (2) (a) of the statutes is amended to read:

440.996 (2) (a) Initiate contact, directly or indirectly, with a student athlete or, if the student athlete is a minor, a parent or guardian of the student athlete, to recruit or solicit the student athlete, parent, or guardian unless registered under this subchapter.