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(a) An equine activity sponsor shall post and maintain signs that contain the warning notice set forth in subsection (c). The sign must be placed in a clearly visible location on or near stables, corrals or arenas or other places where equine activities are conducted. The warning notice must appear on the sign in conspicuous letters no less than one inch in height.\n(b) A written contract entered into by an equine professional for providing professional services, instruction, or rental of equipment, tack, or an equine to a participant, whether or not the contract involves an equine activity on or off the location or site of the equine professional's business, must contain in clearly readable print the warning notice set forth in subsection (c).\n(c) A sign or contract described in this section must contain substantially the following warning notice:\nWARNING\n(d) Noncompliance with the requirements concerning warning signs and notices provided in this section prevents an equine-activity sponsor or equine professional from invoking the privileges of immunity provided by section 182.