(a) An arbitrator shall make a record of an award. The record must be signed or otherwise authenticated by any arbitrator who concurs with the award. The arbitrator or the arbitration organization shall give notice of the award, including a copy of the award, to each party to the arbitration proceeding.
(b) An award must be made within the time specified by the agreement to arbitrate or, if not specified therein, within the time ordered by the court. The court may extend or the parties to the arbitration proceeding may agree in a record to extend the time. The court or the parties may do so within or after the time specified or ordered. A party waives any objection that an award was not timely made unless the party gives notice of the objection to the arbitrator before receiving notice of the award.
History: Laws 2001, ch. 227, § 20.
Compiler's note. — Laws 2002, ch. 227, § 33 repealed the former Uniform Arbitration Act, Sections 44-7-1 to 44-7-22 NMSA 1978, enacted by Laws 1971, ch. 168, §23. The Uniform Arbitration Act compiled as 44-7A-1 to 44-7A-32 NMSA 1978 was enacted effective July 1, 2001.
Delivery method important if delivery does not occur within limits. — Where delivery is not accomplished by the method required by this section, the important consideration is whether delivery actually occurs within the required time. The method becomes important if the delivery is not accomplished within the required time, although the statutory method of posting is complied with. Chaco Energy Co. v. Thercol Energy Co., 1981-NMSC-127, 97 N.M. 127, 637 P.2d 558.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 4 Am. Jur. 2d. Alternative Dispute Resolution § 191 et seq.
Death of party to arbitration agreement before award as revocation or termination of submission, 63 A.L.R.2d 754.
Failure of arbitrators to make award within specified time limit, 56 A.L.R.3d 815.
Referee's failure to file report within time specified by statute, court order, or stipulation as terminating reference, 71 A.L.R.4th 889.
6 C.J.S. Arbitration § 95 et seq.
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