Vote Smart's Synopsis:

Vote to amend and pass a bill that authorizes college athletes to receive compensation for the use of their name and likeness.

Highlights:

• Defines "endorsement contract" as an agreement under which a student-athlete is employed or receives consideration to use on behalf of the other party any value that the student-athlete may have because of publicity, reputation, following, or fame obtained because of athletic ability or performance (Sec. 339.150-7).

• Authorizes a real estate broker to pay compensation directly to a business entity owned by a licensee that has been formed to receive compensation earned by such licensee. A business entity that receives compensation from a real estate broker as provided for in this subsection will not be required to be licensed under this chapter and will be owned (Sec. 339.150-4):

• Solely by the licensee;

• By the licensee together with the licensee's spouse, but only if the spouse and licensee are both licensed and associated with the same real estate broker, or the spouse is not also licensed; or

• By the licensee and one or more other licensees, but only if all such owners are licensees which are associated with the same real estate broker.

• Authorizes the director to refuse to issue a certificate of registration if the director determines that the applicant has engaged in conduct that has a significant adverse effect on the applicant's fitness to serve as an athlete agent (Sec. 436.230-2).

• Authorizes an athlete agent to renew the registration by proceeding if the registration in the other state has been renewed, by submitting to the director copies of the application for renewal in the other state and the renewed registration from the other state. The director will renew the registration if the director determines (Sec. 436.230-5):

• The registration requirements of the other state are substantially similar to or more restrictive than the requirements provided under sections 436.215 to 436.272; and

• The renewed registration has not been suspended or revoked and no action involving the individual's conduct as an athlete agent is pending against the individual or the individual's registration in any state.

• Requires an agency contract to be accompanied by a separate record signed by the student-athlete or, if the student-athlete is a minor, the parent or guardian of the student-athlete acknowledging that signing the contract may result in the loss of the student athlete's eligibility to participate in the student-athlete's sport (Sec. 436.242-4).

• Specifies if an athlete agent enters into an agency contract with a student-athlete and the student-athlete subsequently enrolls at an educational institution, the athlete agent will notify the athletic director of the educational institution of the existence of the contract within 72 hours after the agent knows or should have known the student-athlete enrolled (Sec. 436.245-4).

• Specifies an agency contract that does not conform to this section is voidable by the student-athlete or, if the student-athlete is a minor, by the parent or guardian of the student-athlete. If the contract is voided, any consideration received by the student-athlete from the athlete agent under the contract to induce entering into the contract is not required to be returned (Sec. 436.245-5).

• Requires an educational institution that becomes aware of a violation of sections 436.215 to 436.272 by an athlete agent to notify the director of the violation and any professional league or players' association with which the educational institution is aware the agent is licensed or registered (Sec. 436.245-7).

• Authorizes an educational institution or a student-athlete to bring an action for damages against an athlete agent if the institution or student-athlete is adversely affected by an act or omission of the athlete agent (Sec. 436.260-1).

Full Bill Text