(1) After discovery pursuant to 75-10-747 closes, all persons participating in the allocation process shall conduct good faith settlement negotiations for a period of 30 days.
(2) The participating potentially liable persons may use an impartial mediator when conducting settlement negotiations.
(3) If a settlement is reached under subsection (1), the persons shall execute a stipulated agreement as provided in 75-10-750.
(4) If a stipulated agreement is not executed as provided in 75-10-750, the persons shall select an allocator as provided in 75-10-749.