This bill establishes regulations regarding contracts for student-athletes related to the use of their name, image, or likeness. Specifically, it prohibits such contracts from remaining in effect once the student-athlete is no longer eligible to participate in intercollegiate athletics. Additionally, the bill ensures that these contracts cannot require the student-athlete to provide compensation for any earnings or rights associated with their name, image, or likeness after their eligibility has ended.

Furthermore, any contract provisions that violate these stipulations will be deemed void. The bill aims to protect student-athletes from being bound by agreements that extend beyond their eligibility and to prevent exploitation of their name, image, or likeness after they can no longer compete in intercollegiate sports. The act is set to take effect immediately upon passage.