21-25A-3 Insurance policies not covered--Arbitration agreements void.
Insurance policies not covered--Arbitration agreements void.
This chapter does
not apply to insurance policies and every provision in any such policy requiring arbitration or
restricting a party thereto or beneficiary thereof from enforcing any right under it by usual legal
proceedings in ordinary tribunals or limiting the time to do so is void and unenforceable. However,
nothing in this chapter may be deemed to impair the enforcement of or invalidate a contractual
provision for arbitration entered into between insurance companies.
Source: SL 1971, ch 157, § 24; SL 1976, ch 155, § 2; SL 1997, ch 125, § 1.