42-2-413. Consequences of relinquishment and consent to adopt. Except under a circumstance stated in 42-2-411 a relinquishment and consent to the adoption of a child that is executed by a parent or guardian in substantial compliance with 42-2-412 is final and irrevocable. The relinquishment and consent to adopt:

(1) unless a court orders otherwise to protect the welfare of the child, entitles the department, agency, or prospective adoptive parent named or described to the legal and physical custody of the child and imposes on that department, agency, or prospective adoptive parent responsibility for the support and medical and other care of the child;

(2) terminates, as provided in 42-2-403, any duty of the parent who executed the document with respect to the child except for arrearages of child support; and

(3) terminates any right of the parent or guardian who executed the document to:

(a) object to the placement of the child for adoption by the department or agency; and

(b) object to the child's adoption by the prospective adoptive parent.