ARBITRATION BOARD.

(a) Not later than the fifth day after the date the original written request to arbitrate is received, each party shall:

(1) select one arbitrator; and

(2) immediately notify the other party in writing of the name and contact information of the arbitrator selected.

(b) Not later than the 10th day after the date arbitrators are selected under Subsection (a), the arbitrators shall attempt to select a third, neutral arbitrator to form a three-person arbitration board.

(c) If the arbitrators are unable to agree on a third arbitrator as provided by Subsection (b), the parties shall request a nationwide list of nine qualified neutral arbitrators from the American Arbitration Association. The parties may agree on one of the nine neutral arbitrators on the list. If the parties do not agree within five days after the date they receive the list, each party shall alternate striking a name from the list, and the name remaining is the third arbitrator.

(d) The third arbitrator selected under this section presides over the arbitration board.

(e) A decision made by the arbitration board at any stage of the arbitration process must be determined by majority vote of the arbitrators on the board.