Arkansas Code Title 4. Business and Commercial Law § 4-75-1305. Representation

(a) An agent, athlete agent, financial advisor, or attorney who is providing professional representation of a student-athlete shall be licensed, as applicable, in this state.

(b) An institution of higher education, athletic association, athletic conference, or other organization with authority over varsity intercollegiate athletics shall not prevent a student-athlete from participating in a varsity intercollegiate sport, or otherwise penalize a student-athlete, for obtaining professional representation in connection with an opportunity to earn compensation for the commercial use of the student-athlete's publicity rights.

(c) A student-athlete may rescind a publicity rights contract with a third-party licensee or a contract for professional representation related to publicity rights without being held liable for breach of contract and with no obligation to return payments received before giving notice of rescission if the student-athlete is no longer eligible to participate in any varsity intercollegiate athletics program at an institution of higher education.