(The Center Square) – Authorization of sports agents to sign North Carolina’s collegiate athletes for “name, image, and likeness” contracts used in product endorsements is in legislation approved Wednesday by a committee of the state Senate.

Authorize NIL Agency Contracts, known also as Senate Bill 229, is headed to the Rules Committee after gaining favor in the Judiciary Committee. It would likely next get a full floor vote.

Last year the NCAA approved NIL contracts for players.

“Athletes can benefit from NIL by endorsing products, signing sponsorship deals, engaging in commercial opportunities and monetizing their social media presence, among other avenues,” the NCAA says on its website. “The NCAA fully supports these opportunities for student-athletes across all three divisions.”

SB229 spells out the information that the agent’s contract with the athlete must include, and requires a warning to the athlete that they could lose their eligibility if they do not notify the school’s athletic director within 72 hours of signing the contract.

“Consult with your institution of higher education prior to entering into any NIL contract,” the says the warning that would be required by the legislation. “Entering into an NIL contract that conflicts with state law or your institution’s policies may have negative consequences such as loss of athletic eligibility. You may cancel this NIL agency contract with 14 days after signing it.”

The legislation also exempts the NIL contracts from being disclosed under the state’s Open Records Act when public universities review them. The state’s two ACC members from the UNC System, Carolina and N.C. State, requested the exemption.

“They are concerned about disclosure of the student-athlete contracts when private universities don’t have to disclose the student-athlete contracts,” Sen. Amy Galey, R-Alamance, told the committee. “I feel very strongly that a state university should not be put at a disadvantage at recruitment or in program management because they have disclosure requirements through state law.”

Duke and Wake Forest are the other ACC members, each a private institution.

(The Center Square) – Called “crypto-friendly legislation” by the leader of the chamber, a proposal on digital assets on Wednesday afternoon passed the North Carolina House of Representatives.

Passage was 71-44 mostly along party lines.

The NC Digital Assets Investments Act, known also as House Bill 92, has investment requirements, caps and management, and clear definitions and standards aimed at making sure only qualified digital assets are included. House Speaker Destin Hall, R-Caldwell, said the state would potentially join more than a dozen others with “crypto-friendly legislation.”

With him in sponsorship are Reps. Stephen Ross, R-Alamance, Mark Brody, R-Union, and Mike Schietzelt, R-Wake.

Nationally last year, the Financial Innovation and Technology for the 21st Century Act – known as FIT21 – passed through the U.S. House in May and in September was parked in the Senate’s Committee on Banking, Housing and Urban Affairs.

Dan Spuller, cochairman of the North Carolina Blockchain Initiative, said the state has proven a leader on digital asset policy. That includes the Money Transmitters Act of 2016, the North Carolina Regulatory Sandbox Act of 2021, and last year’s No Centrl Bank Digital Currency Pmts to State. The latter was strongly opposed by Gov. Roy Cooper, so much so that passage votes of 109-4 in the House and 39-5 in the Senate slipped back to override votes, respectively, of 73-41 and 27-17.