Sec. 5. Transparency and accountability relating to name, image, and likeness agreements and student athlete endorsements
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/bill/116/s/5003/is/section-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A certified agent may not enter into a representation agreement with a student athlete before the date on which the student athlete is enrolled. Not later than 5 days after the date on which a student athlete receives covered compensation relating to a name, image, and likeness agreement, the certified agent representing the student athlete shall report to the Entity— the receipt and amount of such covered compensation; and the terms and conditions of the agreement, including the name of each party to the agreement.
To preserve the integrity of the educational programs of institutions, an institution or the Entity may impose reasonable limits on the amount of time a student athlete may spend to carry out endorsement activities relating to a name, image, and likeness agreement. Not less frequently than annually, the Entity shall make available to the public on the internet website of the Entity, for the preceding 1-year period— the total number of student athletes who have entered into name, image, and likeness agreements; the total number of student athletes eligible to earn covered compensation from third-party licensees as a result of name, image, and likeness agreements; the total amount of covered compensation earned by student athletes, disaggregated by division and by conference; the average amount of covered compensation earned by student athletes; the average amount of covered compensation earned by student athletes, disaggregated by sport; and a detailed description of each name, image, and likeness agreement entered into, including, for each student athlete— the terms and conditions of the name, image, and likeness agreement; the amount of covered compensation; the requirements of the student athlete for receiving such covered compensation; the dates for which the name, image, and likeness agreement is in effect; and any other information the Entity considers relevant.