3211

When the written agreement includes a provision to settle through arbitration a dispute which may arise between the parties subsequent to said agreement or in relation thereto, the party seeking arbitration shall serve on the other party, whether personally or by registered mail, a written notice of his intent to arbitrate. Said notice shall in substance state that, unless within twenty (20) days after notice has been served, the party on whom said notice was served, in turn serves a motion to stay the arbitration, said party shall thereafter be barred from promoting a dispute concerning the existence or validity of the agreement, or the nonperformance thereof.\nHistory —May 8, 1951, No. 376, p. 896, § 11, eff. 90 days after May 8, 1951.