(1) Except as otherwise provided in subsection (2) of this section, an individual may not act as an athlete agent in this state without holding a certificate of registration under KRS 164.6901 to 164.6935.
(2) Before being issued a certificate of registration, an individual may act as an athlete agent in this state for all purposes except signing an agency contract, if:
(a) A student-athlete or another person acting on behalf of the student-athlete initiates communication with the individual; and (b) Within seven (7) days after an initial act that requires the individual to register as an athlete agent, the individual submits an application for registration as an athlete agent in this state.
(3) An agency contract resulting from conduct in violation of this section is void, and the athlete agent shall return any consideration received under contract.