(a) Right to Review.— A party aggrieved by a determination of the corporation under section
220528 of this title may obtain review by any regional office of the American Arbitration Association.
(1)A demand for arbitration must be submitted within 30 days after the determination of the corporation.
(2)On receipt of a demand for arbitration, the Association shall serve notice on the parties to the arbitration and on the corporation, and shall immediately proceed with arbitration according to the commercial rules of the Association in effect at the time the demand is filed, except that—
(A)the arbitration panel shall consist of at least 3 arbitrators, unless the parties to the proceeding agree to a lesser number;
(B)the arbitration hearing shall take place at a site selected by the Association, unless the parties to the proceeding agree to the use of another site; and
(C)the arbitration hearing shall be open to the public.
(3)A decision by the arbitrators shall be by majority vote unless the concurrence of all arbitrators is expressly required by the contesting parties.
(4)Each party may be represented by counsel or by any other authorized representative at the arbitration proceeding.
(5)The parties may offer any evidence they desire and shall produce any additional evidence the arbitrators believe is necessary to an understanding and determination of the dispute. The arbitrators shall be the sole judges of the relevancy and materiality of the evidence offered. Conformity to legal rules of evidence is not necessary.
(c) Settlement.— The arbitrators may settle a dispute arising under this chapter before making a final award, if agreed to by the parties and achieved in a manner not inconsistent with the constitution and bylaws of the corporation.
(d) Binding Nature of Decision.— Final decision of the arbitrators is binding on the parties if the award is not inconsistent with the constitution and bylaws of the corporation.
(e) Reopening Hearings.—
(1)At any time before a final decision is made, the hearings may be reopened by the arbitrators on their own motion or on the motion of a party.
(2)If the reopening is based on the motion of a party, and if the reopening would result in the arbitrators’ decision being delayed beyond the specific period agreed to at the beginning of the arbitration proceedings, all parties to the decision must agree to reopen the hearings.
Sept. 21, 1950, ch. 975, title II, § 205(c), as added Nov. 8, 1978, Pub. L. 95–606, § 2, 92 Stat. 3057.
36:395(c)(1) (2d sentence).
36:395(c)(1) (last sentence).
36:395(c)(3) (1st sentence).
36:395(c)(3) (2d, last sentences).
In subsection (a), the reference to 36:391(c) is omitted because 36:391(c) is omitted as executed. See the revision note for section 220522 of the revised title. The words “may obtain review by” are substituted for “The right to review . . . shall be to” for clarity.
In subsection (b)(2)(A) and (B), the word “mutually” is omitted as unnecessary.
In subsection (b)(4), the word “duly” is omitted as unnecessary.
In subsection (c), the words “in any arbitration”, “the provisions of”, “mutually”, and “to the proceeding” are omitted as unnecessary.
In subsection (d), the word “involved” is omitted as unnecessary.
In subsection (e), the word “contesting” is omitted as unnecessary.
In subsection (e)(2), the words “the reopening is based on the motion of a party” are substituted for “any contesting party makes such a motion” for clarity.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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