(a) An arbitration is terminated by the final arbitration award or by an order of the arbitration tribunal under Subsection (b). The award is final on the expiration of the applicable period under Section 172.147.
(b) The arbitration tribunal shall issue an order for the termination of the arbitration if:
(1) the claimant withdraws the claim, unless the respondent objects to the order and the arbitration tribunal recognizes a legitimate interest on the respondent's part in obtaining a final settlement of the dispute;
(2) the parties agree to the termination of the arbitration; or
(3) the tribunal finds that continuation of the arbitration is unnecessary or impossible.
(c) Subject to Sections 172.147, 172.148, and 172.149, the mandate of the arbitration tribunal ends with the termination of the arbitration.