"Postsecondary educational institution" defined; prohibition on rules, requirement, standard, or limitation on college athletes earning compensation.
(1) As used in this act, "postsecondary educational institution" means a public or private institution in this state that offers a degree or course of study beyond the twelfth grade and receives state or federal funding of any kind. (2) A postsecondary educational institution shall not uphold any rule, requirement, sta…