Athlete AgentsProfessional Athletes and Athlete Agents
Section § 18897
Section § 18897.1
This law requires that every athlete agent contract must clearly state, in large bold letters, that the agent has their public information filed with California's Secretary of State. This filing is required under laws that protect athletes, but it doesn't mean the state approves the contract or the agent's skills.
Section § 18897.2
If an athlete's salary is paid to an agent instead of the athlete directly, the agent must set up a trust fund to hold that money. The agent has to immediately put any payments received for the athlete into this trust fund, which should be in a bank or financial institution that is either state-licensed or federally chartered.
Section § 18897.23
If you're an athlete agent, you need to keep detailed records for anyone who hires you and the fee you receive from them. Don't lie on these records, and make sure to keep them for at least seven years. This rule only applies to your athlete agent activities, not other business dealings you might have.
Section § 18897.27
This law says that athlete agents cannot own or have any financial stake in companies that hire athletes in the same sport as the athletes they represent or are negotiating contracts for, like endorsements or financial services.
Section § 18897.3
If someone acting as an athlete agent offers financial advice or services to an athlete, they must tell the athlete if they own a part of any business they're recommending. They also have to let the athlete know if they will earn a commission from the athlete's investment.
Section § 18897.33
This law says that athlete agents cannot make contracts that include anything illegal, and they can't help with jobs that would break the law.
Section § 18897.37
This law makes it illegal for athlete agents or anyone working for them to publish or share false, misleading, or fraudulent information. They must not make false promises or give incorrect information about employment opportunities to anyone.
Section § 18897.4
If you're an athlete agent and you're advertising your services, you have to include your name and business address in all your ads.
Section § 18897.43
This law says that an athlete agent must inform someone if they are trying to get them a job at a place that is affected by a strike, lockout, or any other labor dispute. The agent must not knowingly skip giving this warning.
Section § 18897.47
This law prevents athlete agents from sharing fees or receiving payments from professional sports leagues, teams, or organizations if the payments are related to athletes' on-field activities or their representation as it pertains to employment. Additionally, athlete agents cannot let full-time employees of a union or players’ association involved in professional sports have any ownership or share any of their earnings.
Section § 18897.5
This law prohibits athlete agents from making or signing any contracts with athletes that have terms starting or taking effect at a future date. They can't negotiate or enter into any agreements that are set to kick in later.