Section 20. Costs of arbitration

Latest version.

Arbitrations shall be funded from accrued interest. The department shall determine on a case-by-case basis if sufficient funds exist to conduct an arbitration. Sufficiency of funds shall be determined by the amount of accrued interest available at the time arbitration is requested, less estimated costs of pending arbitrations. If sufficient funds are not available, the department shall maintain a waiting list of parties willing to arbitrate.

Historical Notes

Derived from Volume 30, Issue 06, eff. December 19, 2013.

Statutory Authority

§§ 45.1-361.15 and 45.1-361.22:1 of the Code of Virginia.

                    
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