If, at the time a demand for arbitration was made or notice of intention to arbitrate was served, the claim sought to be arbitrated would have been barred by limitation of time pursuant to chapter 614 had it been asserted in a court of this state, a party may assert the limitation as a bar to the arbitration on an application to the court.
Section applies to all arbitration proceedings commenced on or after July 1, 2022, and any arbitration proceeding that is pending on July 1, 2022, where asserting a statute of limitation is not expressly prohibited by the rules governing the arbitration proceeding; 2022 Acts, ch 1118, §2