Section 435.415

Title XXVIII CONTRACTS AND CONTRACTUAL RELATIONS

Chapter 435

Effective - 28 Aug 2021, 2 histories   

  435.415.  Judgment or decree on award — certain arbitration awards not binding, not admissible, and not basis for judgment or decree, when — insurer defined. — 1.  Except as provided in subsection 2 of this section, upon the granting of an order confirming, modifying or correcting an award, judgment or decree shall be entered in conformity therewith and be enforced as any other judgment or decree.  Costs of the application and of the proceedings subsequent thereto, and disbursements may be awarded by the court.

  2.  Any arbitration award for personal injury, bodily injury, or death or any judgment or decree entered on an arbitration award for personal injury, bodily injury, or death shall not be binding on any insurer, shall not be admissible in evidence in any lawsuit against any insurer for any party to an arbitration award, and shall not provide the basis for any judgment or decree, including any garnishment, against any insurer, unless the insurer has agreed in writing to the arbitration proceeding.  Any arbitration award for personal injury, bodily injury, or death or any judgment or decree confirming, modifying, or correcting any arbitration award for personal injury, bodily injury, or death shall not be subject to garnishment, enforcement, or collection from any insurer unless the insurer has agreed in writing to the written arbitration agreement.  Unless otherwise required by the insurance contract, an insurer's election not to participate in an arbitration proceeding shall not constitute, nor be construed to be, bad faith.  This section shall not apply to any arbitration required by statute or arising out of an arbitration agreement preceding the date of the injury or loss which is the subject of the arbitration.

  3.  As used in this section, the term "insurer" shall include any entity authorized to transact liability insurance business in this state including, but not limited to, any liability insurance company organized, incorporated, or doing business pursuant to the provisions of chapter 379, any entity formed pursuant to section 537.620, any entity which is subject to sections 537.700 to 537.756, or any entity which provides risk management services to any public or private entity.

­­--------

(L. 1980 H.B. 1203 § 14, A.L. 2021 H.B. 345)