N.C. Gen. Stat. § 1-567.62
Termination of proceedings
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) The arbitral proceedings are terminated by the final award or by an order of the arbitral tribunal in accordance with subsection (b) of this section.
(1) The arbitral proceedings are terminated by the final award or by an order of the arbitral tribunal in accordance with subsection (b) of this section.
(2) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings if: The claimant withdraws the claim, unless the respondent objects to the order and the arbitral tribunal recognizes a legitimate interest on the respondent's part in obtaining a final settlement of the dispute;
(2) The arbitral tribunal shall issue an order for the termination of the arbitral proceedings if: The claimant withdraws the claim, unless the respondent objects to the order and the arbitral tribunal recognizes a legitimate interest on the respondent’s part in obtaining a final settlement of the dispute;
(3) The parties agree on the termination of the proceedings; or
(3) The parties agree on the termination of the proceedings; or
(4) The arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.
(4) The arbitral tribunal finds that the continuation of the proceedings has for any other reason become unnecessary or impossible.
(5) Subject to the provisions of G.S. 1-567.63, the mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings.
(5) Subject to the provisions of G.S. 1-567.63, the mandate of the arbitral tribunal terminates with the termination of the arbitral proceedings.
History
(1991, c. 292, s. 1.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.