(a) This chapter does not apply to spectating at an equine activity, unless the spectator places himself in an unauthorized area and in immediate proximity to the equine activity.
(b) Two persons may agree in writing to a waiver of liability beyond the provisions of this chapter. A waiver under this subsection is valid and binding by its terms.
(c)
(1) A participant, or parent or guardian of a minor participant, may execute a release assuming responsibility for the risks of engaging in equine activities. The release must give notice to the participant, or parent or guardian, of the risks of engaging in equine activities, including:
(A) the propensity of an equine to behave in dangerous ways that may result in injury to the participant,
(B) the inability to predict an equine's reaction to sound, movements, objects, persons, or animals, and
(C) the hazards of surface or subsurface conditions.
(2) A release remains valid until revoked in writing by the participant or, if a minor, by the parent or guardian.