Section effective January 1, 2027. If a covered social media platform permits a child to open or continue an account on such platform in the absence of parental consent sufficient for the formation of a binding contract with a child under ordinary principles of contract law under the laws of this State, then any purported contract pertaining to such account is void and unenforceable as contrary to public policy including, but not limited to, any arbitration provision, limitation of liability, or limitation of remedies, without regard to whether the covered social media platform had actual or constructive knowledge that the account holder was a child.