HB540 Summary

• Prohibits athlete agents and other persons from negotiating or advocating for student-athlete enrollment at educational institutions in exchange for compensation.

• Requires athlete agents to obtain certification from the applicable professional league players' association if one exists for their sport, or post a $25,000 surety bond if no such association exists.

• Increases initial registration fees from $200 to $500 and expands application requirements to include certified identification copies, professional league players' association certification, and surety bond proof where applicable.

• Establishes graduated disciplinary penalties: first violation results in public letter of reprimand and censure, second violation results in license suspension for one year, and third violation results in permanent disassociation from operating as an athlete agent in Alabama.

• Expands the Alabama Athlete Agents Commission from 18 to 20 members by adding representatives from Birmingham-Southern College and Samford University.