(1) The court may accept the parent’s written voluntary release if it meets the following minimum requirements:

(a) Is signed under oath and dated at least seventy-two (72) hours after the birth of the child;

(b) States the parent’s full name, the relationship of the parent to the child, and the parent’s address;

(c) States the child’s full name, date of birth, time of birth if known, and place of birth as indicated on the birth certificate;

(d) Identifies the governmental agency or home to which the child has been surrendered, if any;

(e) States the parent’s consent to adoption of the child and waiver of service of process for any future adoption proceedings;

(f) Acknowledges that the termination of the parent’s parental rights and that the subsequent adoption of the child may significantly affect, or even eliminate, the parent’s right to inherit from the child under the laws of Descent and Distribution (Chapter 1, Title 91, Mississippi Code of 1972);

(g) Acknowledges that all provisions of the written voluntary release were entered into knowingly, intelligently, and voluntarily; and

(h) Acknowledges that the parent is entitled to consult an attorney regarding the parent’s parental rights.

(2) The court’s order accepting the parent’s written voluntary release terminates all of the parent’s parental rights to the child, including, but not limited to, the parental right to control or withhold consent to an adoption. If the court does not accept the parent’s written voluntary release, then any interested person, or any agency, institution or person holding custody of the child, may commence involuntary termination of parental rights proceedings under Section 93-15-107.