Sec. 6. Transparency

425 words·~2 min read·/bill/118/s/2495/is/section-6

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Not later than 30 days after entering into a name, image, or likeness contract, a student athlete shall disclose to the institution of higher education at which the student athlete is enrolled— the existence of the contract; the names of the parties to the contract; the scope of work to be performed by the student athlete under the contract and the corresponding timeline for such work; the compensation to be provided to the student athlete; and the duration of the contract. An agent representing a student athlete with respect to a name, image, or likeness contract shall— register with the Federal Trade Commission; and disclose to the Federal Trade Commission— the fee and compensation structure of the agent; the scope of work to be performed by the agent; and the duration of the contract.

Each third party shall— register with the Federal Trade Commission; and disclose to the Federal Trade Commission and to each institution of higher education that is a party to a written contract with the third party— the existence of the contract; the names of the parties to the contract; the scope of work to be performed by the student athlete under the contract and the corresponding timeline for such work; the compensation to be provided to the student athlete; and the duration of the contract.

Any individual or booster seeking to enter into a name, image, or likeness contract shall— register with the Federal Trade Commission; and not later than 7 days before the date on which a name, image, or likeness contract is executed, disclose to the Federal Trade Commission— the existence of the contract; the names of the parties to the contract; the scope of work to be performed by the student athlete under the contract and the corresponding timeline for such work; the compensation to be provided to the student athlete; and the duration of the contract.

Not later than 180 days after the date of the enactment of this Act, the Federal Trade Commission shall establish a publicly accessible internet website on which the Federal Trade Commission shall publish and frequently update anonymized and aggregated name, image, or likeness data. The disclosure of a name, image, or likeness contract to an institution of higher education or the National Collegiate Athletic Association may not be construed as an approval of the name, image, or likeness contract by the institution of higher education or the National Collegiate Athletic Association with respect to the legal requirements or the fairness of the economic terms of the name, image, or likeness contract.