§  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.