(a) A collaborative law participation agreement must:
(1) be in a record;
(2) be signed by the parties;
(3) state the parties' intention to resolve a collaborative matter through a collaborative law process under this division;
(4) describe the nature and scope of the matter and the collaborative law process;
(5) identify the collaborative lawyer who represents each party in the process;
(6) contain a statement by each collaborative lawyer confirming the lawyer's representation of a party in the collaborative law process;
(7) contain a provision informing the client that the collaborative lawyer and his or her law firm must withdraw from their representation of the client should the collaborative law process terminate under subsection (d) of Section 6-6-26.04; and
(8) contain a statement explaining the disclosure of information required under Section 6-6-26.11.
(b) Parties may agree to include in a collaborative law participation agreement additional provisions not inconsistent with this division.