(2)(a) Competitive food and beverage items sold during the school day shall meet federal nutrition Standard. (b) Notwithstanding Subsection (2)(a), a school may sell food or beverages that do not meet the competitive food Standard for the purpose of conducting infrequent school-sponsored fundraisers, subject to the following restrictions: (i) An LEA may not hold an exempt fundraiser more than three times per year per site; (ii) An exempt fundraiser may not last more than five consecutive days; and (iii) The principal of a school holding an exempt fundraiser shall designate an individual to maintain records for the fundraiser.