Sec. 9. Section 7 of this chapter does not prevent or limit the liability of a school that receives monetary consideration for a community use physical fitness activity from any person other than a government agency unless the school:
(1) posts and maintains a sign on which is printed the warning notice set forth in section 11 of this chapter; or
(2) has received a signed release from the participant indicating that the participant has received written notice of the warning set forth in section 11 of this chapter.