Sec. 3. Establishment of rules for payment of student athletes
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/bill/116/s/4004/is/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than June 30, 2021, any intercollegiate athletic association shall establish— a policy that permits any student athlete to— earn compensation from a third party as a result of the use of the name, image, or likeness of such student athlete; and subject to the requirements under section 3 of the Sports Agent Responsibility and Trust Act ( 15 U.S.C. 7802 ), obtain professional representation with respect to matters described in subparagraph (A); and rules and programs for the administration of the policy described in paragraph (1), including— requiring student athletes to report any compensation described in such paragraph, or any agreement to receive such compensation, to the institution of higher education in which they are enrolled and the intercollegiate athletic association within a reasonable period following— the date on which an agreement to receive such compensation is reached between the student athlete and the third party; and the date on which such compensation is received by the student athlete; and such rules and programs as are deemed necessary to— preserve the amateur status of student athletes; ensure appropriate recruitment of prospective student athletes; and prevent illegitimate activity with respect to any third party seeking to recruit or retain student athletes with respect to any institution of higher education, including any third party— with a prior or existing association, either formally or informally, with any institution of higher education; or with a prior or existing financial involvement with respect to postsecondary athletics.
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Sec. 3
Establishment of rules for payment of student athletes
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