(a) Except as otherwise provided in Subsections (b) and (c), a party to an agreement to arbitrate or to an arbitration proceeding may waive or the parties may vary the effect of the requirements of the Uniform Arbitration Act [ 44-7A-1 NMSA 1978] to the extent permitted by law.
(b) Before a controversy arises that is subject to an agreement to arbitrate, a party to the agreement may not:
(1) waive or agree to vary the effect of the requirements of Section 6(a), 7(a), 9, 18(a), 18(b), 27 or 29 [ 44-7A-6, 44-7A-7, 44-7A-9, 44-7A-18, 44-7A-27 or 44-7A-29 NMSA 1978];
(2) agree to unreasonably restrict the right under Section 10 [ 44-7A-10 NMSA 1978] to notice of the initiation of an arbitration proceeding;
(3) agree to unreasonably restrict the right under Section 12 [ 44-7A-12 NMSA 1978] to disclosure of any facts by a neutral arbitrator; or
(4) waive the right under Section 17 [ 44-7A-17 NMSA 1978] of a party to an agreement to arbitrate to be represented by a lawyer at any proceeding or hearing under the Uniform Arbitration Act, but an employer and a labor organization may waive the right to representation by a lawyer in a labor arbitration.
(c) A party to an agreement to arbitrate or arbitration proceeding may not waive or the parties may not vary the effect of the requirements of this section or Section 3(a), 8, 15, 19, 21(d) or (e), 23, 24, 25, 26(a) or (b), 30, 31, 32 or 33 [ 44-7A-3, 44-7A-15, 44-7A-19, 44-7A-21, 44-7A-23, 44-7A-24, 44-7A-25, 44-7A-26, 44-7A-30, 44-7A-31, 44-7A-32, 44-7A-33 NMSA 1978].