The Secretary of State Securities Division (Division) is responsible for the regulation of athletes' agents in the State of Nevada. The Division is responsible for the administration and enforcement of the act and has the authority to adopt rules and regulations.
The Uniform Athletes' Agents Act (Act) defines athlete's agent and establishes the registration and renewal requirements for the applicant.
The Act authorizes the Division to review applications for registration and sets forth the authority under which a registration can be denied.
The Act imposes specific clause requirements for inclusion in contracts of agency between an athlete's agent and a student athlete.
The Act authorizes the Division to take action against violators by imposing sanctions including penalties and administrative fines of not more than $25,000.00.
The Act sets forth grounds for suspension, revocation or refusal to renew the registration.
The Act provides that an athlete's agent who violates this statute is guilty of a gross misdemeanor.
"Athlete's Agent" is defined as a natural person who enters into a contract of agency with a student athlete or, directly or indirectly, recruits or solicits a student athlete to enter into such a contract. The term includes a natural person who represents to the public that he is an athlete's agent.
"Student Athlete" is defined as a natural person who engages in, is eligible to engage in or may be eligible in the future to engage in any intercollegiate sport.
"Intercollegiate Sport" includes any sport played at the collegiate level for which the requirements of eligibility for participation by the student athlete are established by a national association for the promotion or regulation of collegiate athletics.
Last updated: 2/11/2010 9:50:56 AM