Colo. Rev. Stat. § 23-16-301 – Compensation and representation of student athletes - prohibited acts - contracts - report - definitions.

(1) As used in this part 3, unless the context otherwise requires:
1. (a) Advisory contract means an agreement in which a student athlete authorizes a person to negotiate or solicit, on behalf of the student athlete, compensation from the use of the student athlete's name, image, or likeness. The term:
  1. (I) Does not include a professional-sports-services contract, as defined in section 23-16-202 (9); and
  2. (II) Includes an endorsement contract, as defined in section 23-16-202 (6), if the endorsement contract provides for a student athlete to receive compensation from the use of the student's name, image, or likeness.
2. (b) Athlete advisor means a person who enters into an advisory contract with a student athlete or, directly or indirectly, recruits or solicits a student athlete to enter into an advisory contract. The term includes an individual who represents to the public that the individual is an athlete advisor. The term does not include a spouse, parent, sibling, grandparent, or guardian of a student athlete.
3. (c) Athletic association means an athletic association, conference, or other group or organization with authority over intercollegiate athletics. The term includes the National Collegiate Athletic Association or any successor organization.
4. (d) Compensation:
  1. (I) Means money or other remuneration or thing of value given to a student athlete in exchange for the use of the student athlete's name, image, or likeness; and
  2. (II) Does not include a scholarship from the institution at which a student athlete is enrolled that provides the student athlete all or a portion of the cost of attendance at that institution.
5. (e) Institution means a public or private institution of higher education in Colorado.
6. (f) Repealed.
7. (g) Student athlete means an individual who engages in or is eligible to engage in an intercollegiate sport for an institution. Student athlete does not mean an individual who engages in a high school sport.
8. (h) Team contract means a contract between an institution and another entity or between an intercollegiate athletic team of an institution and another entity, which contract relates to the activities of an athletic team of the institution.
(2)
1. (a) Except as may be required by the rules or requirements of an athletic association of which an institution is a member, an institution shall not uphold any rule, requirement, standard, or other limitation that prevents a student athlete from earning compensation from the use of the student athlete's name, image, or likeness. A student athlete's earning of such compensation does not affect the student athlete's scholarship eligibility.
2. (b) An athletic association shall not:
  1. (I) Prevent a student athlete from earning compensation from the use of the student athlete's name, image, or likeness; or
  2. (II) Prevent an institution from participating in intercollegiate athletics because a student athlete receives compensation from the use of the student athlete's name, image, or likeness.
3. (c) An institution or a collegiate athletic association shall not prevent a student athlete from obtaining professional representation in relation to contracts or legal matters, including representation provided by an athlete advisor and legal representation provided by an attorney. An individual who is under eighteen years of age must be represented in any negotiation by a parent or guardian. The individual and their parent or guardian may also be represented by an attorney or other competent representative.
4. (c.5) An institution or a collegiate athletic association may provide compensation to a student athlete for the use of the student athlete's name, image, or likeness.
5. (d) An institution may identify, create, solicit, facilitate, and otherwise enable opportunities for a student athlete to earn compensation for the use of the student athlete's name, image, or likeness so long as the institution first acquires the consent of the student athlete to do so. An institution that solicits such an opportunity for a student athlete shall inform the student athlete of the solicitation within seventy-two hours after the solicitation.
(3) Repealed.
(4) Any person providing legal representation to a student athlete must be a licensed attorney.
(5) For the purposes of this section, an institution shall not revoke a student athlete's scholarship because the student athlete receives compensation or obtains professional or legal representation as described in this section.
(5.5) A charitable organization that is not an institution and that qualifies as an exempt organization under 26 U.S.C. sec. 501 (c)(3), as it existed on August 7, 2023, may compensate a student athlete for the use of the student athlete's name, image, or likeness.
(6)
1. (a) A policy of an institution or an athletic association that does not comport with this part 3 is void and unenforceable.
2. (b) A student athlete who is aggrieved by an action taken by an institution or an athletic association in violation of this part 3 may bring an action for injunctive relief.
(7)
1. (a) On or before January 15, 2026, and on or before each January 15 thereafter, each institution shall submit to the department of higher education a copy of the annual report that each institution is required to annually submit to the organization with authority over intercollegiate athletics, consistent with the reporting requirements adopted by the organization with authority over intercollegiate athletics. The data in the report includes gender- and sport-based spending in areas including budgets, salaries, participation, financial aid, and, if or when required, revenue-sharing payments.
2. (b) The department of higher education shall publish and maintain the reports that it receives pursuant to this subsection (7) on its public website.

Source: L. 2020: Entire part added, (SB 20-123), ch. 35, p. 114, § 2, effective July 1, 2021 (See editor's note). L. 2023: (2)(d) and (5.5) added and (3)(b) amended, (SB 23-293), ch. 407, p. 2432, § 1, effective August 7. L. 2025: (1)(f) and (3) repealed, (1)(g), (2)(a), and (2)(c) amended, and (2)(c.5) and (7) added, (HB 25-1041), ch. 38, p. 184, § 1, effective March 28.

Editor's note: Section 1 of House Bill 21-1328 changed the effective date of this part 3, as enacted in Senate Bill 20-123, from January 1, 2023, to July 1, 2021. (See L. 2021, p. 2393.)