Because of the disparity in the sophistication of the parties, this section gives the student athlete or former student athlete the right to cancel an agency contract within 14 days even if the athlete agent has complied with the provisions of Section 10 [Maine cite section 240] regarding the form of the contract. The section provides relief to the student athlete who has entered into an ill-considered agency contract, but does not provide any assurance that the student athlete will be eligible to compete in a sport.

§243.__Required records

1.__Required records.__An athlete agent shall retain the following records for a period of 5 years:

A.__The name and address of each individual represented by the athlete agent;

B.__Any agency contract entered into by the athlete agent; and

C.__Any direct costs incurred by the athlete agent in the recruitment or solicitation of a student athlete to enter into an agency contract.

2.__Open to inspection.__Records required by subsection 1 to be retained are open to inspection by the commissioner during normal business hours.

§244.__Prohibited conduct

1.__Prohibited conduct to induce entering into contract.__An athlete agent, with the intent to induce a student athlete to enter into an agency contract, may not:

A.__Give any materially false or misleading information or make a materially false promise or representation;

B.__Furnish anything of value to a student athlete before the student athlete enters into the agency contract; or

C.__Furnish anything of value to any individual other than the student athlete or another registered athlete agent.

2.__Prohibited conduct by athlete-agent.__An athlete agent may not intentionally: