(A) Name, image, or likeness contracts authorized by this chapter must have a prominent disclosure at the beginning and end of the name, image, or likeness contract that an intercollegiate athlete must acknowledge separately. The disclosure required pursuant to this section shall be worded to warn the intercollegiate athlete of potential eligibility issues that may exist under current rules and policies of athletic conferences or collegiate athletic associations concerning the use of the intercollegiate athlete’s name, image, or likeness and shall clearly set forth the reporting requirements contained in § 59-158-60.

(B) All name, image, or likeness contracts must provide for an unequivocal ten-day revocation period for the intercollegiate athlete.

(C) At least five days prior to the execution of a name, image, or likeness contract authorized by this chapter, the third party proposing to enter into the name, image, or likeness contract with the intercollegiate athlete must disclose, in writing, to the intercollegiate athlete any prior or existing association, either formally or informally, with any institution of higher learning or any prior or existing financial involvement with respect to athletics.

(D) A name, image, or likeness contract may not extend beyond an intercollegiate athlete’s participation in an athletic program at an institution of higher learning.

(E) A name, image, or likeness contract shall be void if an intercollegiate athlete is convicted of a felony pursuant to § 16-1-90.