(3) A postsecondary educational institution or officer, trustee, or employee of a postsecondary institution shall have the right to compensate a student-athlete for the use of the student-athlete's publicity rights to the extent consistent with any legally enforceable rules of a national association, a conference or any other group or organization with authority over the sport, that promotes or regulates collegiate athletics applicable to that institution. Before any agreement for compensation for the use of a student-athlete's publicity rights is entered into, and before any compensation is provided to the student-athlete, a postsecondary educational institution may require a student-athlete enrolled at that institution or who has announced an intention to attend that institution, to disclose the agreement or the terms thereof to a designated official of the postsecondary educational institution in which the student-athlete is enrolled or intends to enroll in a manner prescribed by the institution. Student-athlete agreements, proposed agreements and any documents that compile, summarize or disclose any of the terms of such agreements shall be exempt from the Mississippi Public Records Act of 1983. Postsecondary educational institutions and student-athletes shall not be compelled to disclose student-athlete agreements, proposed agreements and any documents that compile, summarize or disclose any of the terms of such agreements to a national association, a conference or any other group or organization with authority over the sport, that promotes or regulates collegiate athletics.