(a) Right.--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 cancellation to the athlete agent not later than 14 days after the contract is signed.
(b) Waiver prohibited.--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.
(c) Return of consideration.--If a student athlete, parent or guardian cancels an agency contract, the student athlete, parent or guardian is not required to pay consideration under the contract or return consideration received from the athlete agent to influence the student athlete to enter into the contract.