(a) The parent or legal guardian of a Succeed Scholarship Program recipient shall:

(1) Select the private school from the list of private schools eligible to participate in the program that is maintained by the Department of Education;

(2) Apply for the scholarship at least sixty (60) days before the date of the first scholarship payment and notify the superintendent of the student's resident school district within five (5) business days of submitting the application;

(3) Fully comply with the parental involvement requirements of the private school unless excused by the school for illness or other good cause;

(4) Sign a waiver that releases the State of Arkansas from any legal obligation to provide services or education to the student participating in the program except for funding provided for the program under the rules established by the State Board of Education;

(5) Sign a waiver that releases the student's resident school district from any legal obligation to provide services or education to the student participating in the program while the student is not enrolled in the student's resident school district as provided under the rules established by the state board; and

(6) Notify the state board or the state board's designee if the student ceases to be enrolled in or regularly attend the private school for any reason.

(b) A student participating in the program shall:

(1) Attend the private school throughout the school year unless excused by the school for illness or other good cause; and

(2) Comply fully with the code of conduct for the private school.

(c) The state board may terminate the scholarship of a student if the student or the student's parent or guardian materially fails to comply with the responsibilities under this section.