§5A-13-3. Application of act to certain contracts.

(a) The Firearm Industry Nondiscrimination Act shall apply to a contract that:

(1) Is between a governmental entity and a financial institution; and

(2) Is entered into on or after the effective date of this act.

(b) Except as provided in §5A-13-4 of this code, a governmental entity may not enter into a contract with any financial institution that discriminates against any firearm entity or firearm trade association.

(c) Any contract to which subsection (a) of this section applies shall contain provisions providing for the termination of the contract within one year of the governmental entity’s determination that a violation of the requirements of this section have occurred. The governmental entity shall terminate any business relationship with any financial institution in a commercially reasonable manner within one year of the governmental entity’s determination that a violation of the requirements of this section have occurred.