50 States in 50* Days - Illinois Athlete Agent Regulation

Okay, okay. I realize that Illinois should have been up next in the 50 States in 50* Days Series, but can you really blame me?  It is one of a handful of states that does not have a state law regulating the activities of its athlete agents.  Cut me some slack while I try to make this post longer than three sentences.

Northern Illinois University's compliance folks have set up a webpage for Sports Agent / Financial Advisor information, but the links to the NIU Agent Policy and Agent Registration form aren't links at all.

Illinois is mentioned in Chapter 7 of The Business of Sports Agents Second Edition (review coming soon), as the authors discuss whether attorney agents are subject to the ethical rules that govern attorneys.  A 1980 advisory opinion of the Illinois State Bar Association concluded that "when an attorney engaged in the private practice of law represents a client in contract negotiations and general business counseling, these activities constitute the practice of law."  Pretty interesting considering that not many courts or governing bodies have even opined on the issue that in one state that has there isn't a law governing agent activity.  

Not that attempts haven't been made.  The Illinois Legislature has introduced the Uniform Athlete Agents Act a couple of times over the last several years, but obviously to no avail. 

There is hope - Colorado recently passed the UAAA after some failed attempts -  stay tuned for an update on the happenings in Colorado.

50 States in 50* Days - Indiana Athlete Agent Regulation

Trying to restore some order around here - the next stop in the 50 States in 50 Days Series is Indiana.  Indiana, home to the NCAA, is another Uniform Athlete Agent Act state and agents are governed by the Indiana Uniform Athlete Agent Act . 

Athlete agents who violate provisions of the Act may be liable for a felony and educational institutions may have a right of action against the agent as well as former student-athletes. In addition, an athlete agent who is guilty of violating provisions of the act may face civil penalties of up to $25,000 per violation.

Athlete agents are required to file a registration form with the Indiana Attorney General. Registration will cost you $700.00 and is good for two years. 

The Indiana University Athletic Department Compliance office has developed a Guide for Athlete Agents and a questionnaire and registration form.  Purdue also requires athlete agents to register with the athletic department.

Kudos to Ball State's Compliance office for putting out a ton of information regarding athlete agents and for making it clear to agents that registering with the athletic department does not mean that the agent has complied with Indiana's Uniform Athlete Agent Act registration requirements.  The Ball State Athletic Department puts out its own Agent Policies and Procedures,  Agent Questionnaire, Agent Terms and Conditions, and Guidelines for Agents.  If agents are unsure about what is expected of them after reading these materials, then it might be time to find a new line of work.  

Have a great 4th of July weekend!

50 States in 50* Days - North Carolina Athlete Agent Regulation

By special request, North Carolina leaps ahead of the list in the 50 States in 50* Days series. North Carolina is a Uniform Athlete Agent Act state.

The Athlete Agent Registration Office within the Department of the Secretary of State is responsible for the administration of the North Carolina Uniform Athlete Agent Act.

The Office provides a useful FAQ for athlete agents and every conceivable form that an agent could want (and one that they might not want to see with their name on it) .

The eleven page registration form is available online and registration will set you back $200. Luckily, the renewal application is only four pages, but you still have to pay $200.

An Athlete Agent Complaint Form is available on the Office's website. In addition to its intended use , the four-page complaint form also provides a good checklist for agents (and aspiring agents) on behaviors to avoid in their practice.

Finally, the Athlete Agent Registration Office also provides a handy listing of registered athlete agents.

The University of North Carolina's Athletic Department requires athlete agents to register annually by filling out a registration form or renewal form. North Carolina State also requires athlete agents to fill out a registration form.

Who really knows which state will be next or when the next post will happen, but thanks for reading and stay tuned...