1.  A release of liability given in connection with any claim for personal injury sustained by a releasor is voidable by a releasor within 60 days after its signing by the releasor, if the releasor signed the release:

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(a) Within 30 days after the event that initially caused his or her injury; and

(b) Without the assistance or guidance of an attorney.

2.  To void the release of liability pursuant to subsection 1, the releasor shall:

(a) Sign a written notice disclosing the election of the releasor to void the release; and

(b) Within 10 days after signing the notice:

(1) Send the original notice or a signed copy of the notice to the releasee; and

(2) Return any consideration paid by the releasee.

3.  A release of liability is void on the date that the notice and any consideration described in subsection 2 are received by the releasee.

4.  As used in this section:

(a) ’Personal injury’ means any mental or physical injury. The term does not include property damage.

(b) ’Release of liability’ means an agreement executed between a releasor and releasee.

(c) ’Releasee’ means a party who is being released by the releasor from any claim described in subsection 1.

(d) ’Releasor’ means a party who agrees to release the releasee from any claim described in subsection 1.