§ 899-j. Student-athlete's right to cancel. 1. A student-athlete may cancel an agency contract by giving notice of the cancellation to the athlete agent in a record within five days after the contract is signed.

2. A student-athlete may not waive the right to cancel an agency contract.

3. If a student-athlete cancels an agency contract, the student-athlete shall not be required to pay any consideration under such contract or to return any consideration received from the athlete agent to induce the student-athlete to enter into the contract.