(a)A student athlete at a postsecondary educational institution may earn compensation for the use of his or her name, image, or likeness. Such compensation must be commensurate with the market value of the authorized use of the student athlete's name, image, or likeness. Such compensation may not be provided in exchange, in whole or in part, for a current or prospective student athlete to attend, participate, or perform at a particular postsecondary educational institution.
(b)A scholarship from the postsecondary educational institution in which a student athlete is enrolled that provides such student with all or part of the cost of attendance at such institution is not compensation for purposes of this article.
(c)A student athlete's scholarship shall not be revoked, nor shall scholars
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(a) A student athlete at a postsecondary educational institution may earn compensation for the use of his or her name, image, or likeness. Such compensation must be commensurate with the market value of the authorized use of the student athlete's name, image, or likeness. Such compensation may not be provided in exchange, in whole or in part, for a current or prospective student athlete to attend, participate, or perform at a particular postsecondary educational institution. (b) A scholarship from the postsecondary educational institution in which a student athlete is enrolled that provides such student with all or part of the cost of attendance at such institution is not compensation for purposes of this article. (c) A student athlete's scholarship shall not be revoked, nor shall scholarship eligibility be adversely impacted, as a result of a student athlete earning compensation or obtaining representation as provided for in this article. (d) (1) A student athlete shall not enter into a contract providing compensation to the student athlete for use of the student athlete's name, image, or likeness if a provision of such contract is in conflict with the student athlete's team contract. (2) A student athlete who enters into a contract providing compensation to the student athlete for use of the student athlete's name, image, or likeness shall disclose such contract to an official of the student athlete's postsecondary educational institution, to be designated by such institution. (3) A postsecondary educational institution asserting a conflict under paragraph (1) of this subsection shall disclose to the student athlete or the student athlete's representative the relevant provisions of the contract that are asserted to be in conflict. (4) (A) A team contract entered into on or after July 1, 2021, and required by a postsecondary educational institution, or a division, department, program, or team thereof, shall not include any provision which prevents or discourages a student athlete from receiving compensation for the use of his or her name, image, or likeness when the student is not engaged in official activities of the intercollegiate athletic program; provided, however, that such contract may provide for a pooling arrangement as provided for in subparagraph (B) of this paragraph. (B) Team contracts may provide for a pooling arrangement whereby student athletes who receive compensation for the use of their name, image, or likeness pursuant to this article agree to contribute a portion of the compensation they receive pursuant to such contract to a fund for the benefit of individuals previously enrolled as student athletes in the same postsecondary educational institution as such student athlete, provided that such pooling arrangement meets the following conditions: (i) Student athletes shall not be required to contribute an amount equal to more than 75 percent of the compensation received for the use of their name, image, or likeness pursuant to this article; (ii) Each postsecondary educational institution shall establish only for the purposes of this paragraph an escrow account in any bank or lending institution subject to regulation by this state only; (iii) All contributions from student athletes who receive compensation for the use of their name, image, or likeness pursuant to this article shall be deposited in such escrow account by the athletic director of the postsecondary educational institution, or his or her designee; (iv) Upon graduation or withdrawal for at least 12 months from the postsecondary educational institution, individuals who were student athletes prior to such graduation or withdrawal, shall be eligible to receive a pro rata share of the pooled contributions based on the number of months the individual was a student athlete; and (v) The postsecondary educational institution shall provide for the implementation of the provisions of this paragraph in a manner that does not discriminate against or treat differently individuals based upon race, gender, or other personal status protected by federal or state law. (e) A postsecondary educational institution shall conduct a financial literacy and life skills workshop for a minimum of five hours at the beginning of the student athlete's first and third academic years. The workshop shall, at a minimum, include information concerning financial aid, debt management, and a recommended budget for student athletes based on the current academic year's cost of attendance. The workshop shall also include information on time management skills necessary for success as a student athlete and available academic resources. The workshop may not include any marketing, advertising, referral, or solicitation by providers of financial products or services. (f) A postsecondary educational institution, an entity whose purpose includes supporting or benefiting such institution or its intercollegiate athletic programs, or an officer, director, employee, or agent of such institution or entity shall not provide a current or prospective student athlete with compensation for the use of the student athlete's name, image, or likeness. (g) A postsecondary educational institution shall not adopt or maintain any policy, regulation, rule, standard, or other requirement that prevents a student athlete of such institution from earning compensation as a result of the use of such student's name, image, or likeness. (h) (1) An intercollegiate athletic association shall not prevent a student athlete from receiving compensation, or penalize a student athlete for earning compensation, as a result of the student athlete earning compensation for the use of such student's name, image, or likeness. (2) An intercollegiate athletic association shall not prevent a postsecondary educational institution from participating in intercollegiate athletics, or otherwise penalize a postsecondary educational institution, as a result of a student athlete earning compensation for the use of such student's name, image, or likeness.