NOTICE: Effective July 1, 2017, Nevada has enacted the Revised Uniform Athlete Agents Act. The final language as adopted can be seen here: https://www.leg.state.nv.us/Session/79th2017/Bills/AB/AB372_EN.pdf.
The Securities Division ("Division") of the Office of the Secretary of State is responsible for the regulation of athletes' agents in the State of Nevada. The Division is responsible for the administration and enforcement of the Revised Uniform Athlete Agents Act ("Act") and has the authority to adopt rules and regulations.
The Act defines the term "athlete's agent" and establishes the registration and renewal requirements for applicants.
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 $50,000.00.
The Act sets forth grounds for suspension, revocation, or refusal to renew the registration. The Act provides that an athlete's agent who violates certain provisions of this statute is guilty of a misdemeanor.
"Athlete's Agent" is defined as an individual who directly or indirectly recruits or solicits a student athlete to enter into an agency contractor, for compensation, procures employment or offers, promises, attempts or negotiates to obtain employment for a student athlete as a professional athlete or member of a professional sports team or organization.
"Student Athlete" is defined as an individual who is eligible to attend a educational institution and engages in, is eligible to engage in, or may be eligible in the future to engage in, any interscholastic or intercollegiate sport.
"Intercollegiate Sport" means a sport played at the collegiate level for which eligibility requirements for participation by a student athlete are established by a national association that promotes or regulates collegiate athletics.