Reservation of economic interests -- Agreement to negotiate in good faith.
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(1) The right of a person to engage in an act of bioprospecting in this state is subject to the state's reservation of any right the state may have to an economic benefit derived from:
(a) the act of bioprospecting;
(b) a microorganism, plant, or fungus removed from a natural environment in the state; or
(c) information concerning a microorganism's, plant's, or fungus' physical or genetic properties removed from a natural environment in the state.
(2) A person may not engage in an act of bioprospecting in this state if the person, as part of the registration required under Section 65A-14-201, does not agree in writing to negotiate in good faith with the state if the state asserts an economic interest described in Subsection (1).