(1) No state-supported institution of higher education in this state or a department or employee of the institution of higher education shall demand or receive any present or promised gift, payment, loan, subscription, advance, deposit of money, services, or any other thing of value as an inducement for requiring students to purchase a specific textbook for coursework or instruction.
(2) This section shall not prevent an employee of the institution of higher education from receiving either: Sample copies, instructor's copies, or instructional material of a specific textbook required for coursework or instruction; or
(3) Royalties or other compensation from the sale or publication of a textbook that includes the employee's own writing or work.
(4) A violation of this section: Shall be reported within ten (10) business days by the state-supported institution of higher education to the: Chief academic officer of the institution;
(5) Chief legal counsel of the institution; and
(6) Legislative Council; and
(7) May be reported to the parties identified in subdivision (c)(1) of this section by any business or consumer.