243.3. The mission of arbitration shall be entrusted(1) to one arbitrator, where the value involved does not exceed $100,000;
(2) to one arbitrator or, if all members of the pension committee having the right to vote who are present at the meeting referred to in the second paragraph of section 243.7 agree thereto, to three arbitrators, where the value involved exceeds $100,000 without exceeding $1,000,000 or where the purpose of the arbitration is to obtain a determination on a difficulty in interpreting or implementing an agreement or a declaration;
(3) (paragraph repealed);
(4) to three arbitrators or, if all the members of the pension committee having the right to vote who are present at the meeting referred to in the second paragraph of section 243.7 agree thereto, to one arbitrator, where the value involved exceeds $1,000,000.