OK SB490

Student athletes may earn compensation for use of their name, image, or likeness without penalty or loss of eligibility for athletic grant-in-aid.

Postsecondary institutions and authorized third parties may provide professional representation and facilitate name, image, and likeness opportunities, but cannot use state-allocated funds for such payments.

Student athletes must disclose contracts for name, image, and likeness compensation or professional representation to their institution within 72 hours or before their next athletic event, whichever occurs first.

Postsecondary institutions may revoke or rescind agreements or benefits to athletes who receive unauthorized payments and shall not be liable for such revocation or rescission.

Contracts formed during athletic participation cannot extend beyond the student athlete's eligibility at the institution, unless with the institution itself or an authorized third party, except institutions may continue using licensed name, image, or likeness content created during enrollment.