HB 708 Summary

• Repeals chapter 481E and establishes a new Revised Uniform Athlete Agents Act (2015) that requires registration of athlete agents with the director of commerce and consumer affairs.

• Expands the definition of "athlete agent" to include financial advisers, business managers, and other individuals who provide financial or business services to student athletes for compensation.

• Requires athlete agent contracts to include registration status, a warning that signing may result in loss of athletic eligibility, and a separate acknowledgment signed by the student athlete or parent/guardian.

• Mandates that athlete agents notify educational institutions within 72 hours of entering into contracts with enrolled student athletes and requires student athletes to notify their athletic directors of agency contracts.

• Establishes civil penalties up to $50,000, criminal misdemeanor penalties, and allows student athletes and educational institutions to pursue civil remedies including treble damages and attorney's fees for violations.