Within ten days of pronouncement, the circuit court may vacate a resolution pronouncement if:
(1) The resolution was procured by corruption, fraud, or other undue means;
(2) There was evident partiality or corruption by the arbitrator or misconduct prejudicing the rights of any party;
(3) The arbitrator exceeded his or her power; or
(4) The arbitrator refused to hear evidence material to the controversy or conducted the hearing as to prejudice substantially the rights of a party.
If the resolution pronouncement is vacated, the circuit court shall appoint a new arbitrator to resolve the dispute in the manner provided in §§ 12-1-21 to 12-1-30, inclusive.