(1) A county may adopt an ordinance:
(a) designating sending zones and receiving zones located wholly within the unincorporated area of the county;
(b) designating a sending zone if the area described in the sending zone is located, at least in part, within the unincorporated county, and the area described in the sending zone that is located outside the county complies with Subsection (2);
(c) designating a receiving zone if the area described in the receiving zone is located, at least in part, within the unincorporated county, and the area described in the receiving zone that is located outside the county complies with Subsection (2); and
(d) allowing the transfer of a transferable development right from a sending zone to a receiving zone.
(2) A county may adopt an ordinance designating a sending zone or receiving zone that is located, in part, in a municipality or unincorporated area of another county, if the legislative body of every municipality or county with land inside the sending zone or receiving zone adopts an ordinance designating the sending zone or receiving zone.
(3) A county may not allow the use of a transferable development right unless the county adopts an ordinance described in Subsection (1).