(1) Notwithstanding any other law to the contrary, the court shall not confirm an award under § 29-5-212 or enter judgment or decree in conformity therewith under § 29-5-215 where the arbitration hearing or award was made outside of the United States and its territories and the foreign state wherein the award was made does not grant reciprocity in recognition and enforcement of arbitration awards made in the United States or its territories.
(2) The prohibition set forth in subsection (a) of this section shall not apply where the party seeking confirmation under § 29-5-212, or entry of judgment or decree under § 29-5-215, and the real party in interest benefited by the award is a citizen of the United States.