(a)  The state receives the rights to sole ownership and public display of all art acquired under this chapter, subject to the following intangible rights retained by the artist:

(1)  The right to claim authorship of the work of art;

(2)  The right to reproduce the work of art, including all rights to which the work of art may be subject under copyright laws, including, but not limited to, derivative and publishing rights, but excluding the right to public display. The rights may be limited by written contract;

(3)  If provided by written contract, the right to receive a specified percentage of the proceeds if the work of art is subsequently sold by the state to a third party other than as part of the sale of the building in which the work of art is located; and

(4)  If agreed between the state and the artist, the artist may extend to his or her heirs, assignees or personal representatives any of the above rights until the end of the twentieth year following the death of the artist.

(b)  The artist retains as absolute the following rights:

(1)  The right to have the artist’s name associated with the work; and

(2)  The right to prevent degradation, mutilation, or aesthetic ruining of the work.

(c)  Prior to the execution of a contract for artwork to be acquired pursuant to this chapter, the artist shall be informed in writing of the rights specified in subsections (a) and (b).