Revise contract laws relating to student athletes

SB 482 revises contract laws for college athletes in Montana by requiring written agreements for their Name, Image, and Likeness (NIL) rights. The bill ensures student-athletes can earn compensation for their NIL and retain professional representation, while generally prohibiting postsecondary institutions from restricting or penalizing them for exercising these rights. Athletes must disclose NIL contracts to their institutions, and contracts cannot conflict with team rules or institutional agreements during official team activities. Additionally, institutions are allowed to include NIL provisions in scholarship agreements, prohibit NIL use on school property, or serve as an agent for an athlete's NIL contracts.