83.1. Only a body that meets the following criteria may be authorized by the Board to conduct the arbitration of disputes arising out of guaranty plans:
(1) it is devoted to dispute arbitration;
(2) it has established a panel of arbitrators whose integrity has been established and who satisfy the conditions determined by regulation of the Board;
(3) it applies an arbitration procedure that includes the arbitration rules prescribed by regulation of the Board;
(4) it has established a tariff of arbitration costs that has been approved by the Board and that pertains to arbitration expenses, including expenses incurred by such body and the cost of its services, arbitrators’ fees and provisions for expenses;
(5) it satisfies any other condition prescribed by regulation of the Board.
The body must maintain a website that allows the public to access the full text of any decision made by its arbitrators within 30 days.
1995, c. 58, s. 7; 2011, c. 35, s. 16.