(1) If an agreement fails to meet the requirements of 25-40-103 or a lawyer fails to comply with 25-40-114 or 25-40-115, a tribunal may still find that the parties intended to enter into a collaborative law participation agreement if they:
(a) signed a record indicating an intention to enter into a collaborative law participation agreement; and
(b) reasonably believed they were participating in a collaborative law process.
(2) If a tribunal makes the findings specified in subsection (1) and the interests of justice require, the tribunal may:
(a) enforce an agreement evidenced by a record resulting from the process in which the parties participated;
(b) apply the disqualification provisions of 25-40-104, 25-40-105, 25-40-108, 25-40-109, and 25-40-110; and
(c) apply a privilege under 25-40-116.