(1) A court shall stay an asbestos action if the court finds that the plaintiff has failed to make the disclosures required under § 29-34-603 within one hundred twenty (120) days prior to the trial date.
(2) If, in the disclosures required by § 29-34-603, a plaintiff identifies a potential asbestos trust claim, the judge shall have the discretion to stay the asbestos action until the plaintiff files the asbestos trust claim and provides all parties with all trust claims materials for the claim. The plaintiff shall also state whether there has been a request to defer, delay, suspend, or toll the claim against the asbestos trust.