← belizelaw.ai · Building Societies, Cap. 310 · PART V — Settlement of Disputes by Building Societies

Determination of disputes by arbitration

Cap. 310, s. 29 · Revised Edition 2020

(1) Where the rules of a society direct disputes to be referred to arbitration, arbitrators shall be named and elected in the manner such rules provide. (2) If the rules make no such provision, then not less than three arbitrators, none of them being directly or indirectly beneficially interested in the funds of the society, shall be chosen by ballot at the first general meeting of the society, or, failing such election, at the subsequent general meeting. (3) In every such case of dispute, the number of the arbitrators and mode of ballot shall be determined by the rules of the society. (4) The names of such arbitrators shall be duly entered in the minute book of the society, and in case of the death or refusal or neglect of any of the arbitrators to act, the society at a general meeting shall name and elect an arbitrator to act in the place of the arbitrator dying, refusing or neglecting to act. (5) Whatever award shall be made by the arbitrators or the major part of them, according to the true purport and meaning of the rules of the society, shall determine the dispute. (6) Where either of the parties to the dispute refuses or neglects to comply with or conform to such award within such time as may be limited by the award, the Supreme Court, upon good and sufficient proof being adduced of such an award having been made, and of the refusal of the party to comply therewith, shall enforce compliance with the same upon the petition of any person concerned. 17
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