2. The award granted by an arbitrator who fails to disclose the type of interest or relationship described in Section 11(b) is subject to a presumption of vacatur under Sections 12(e) and 23(a)(2). An arbitrator who discloses the type of interest or relationship described in Section 11(b) and who, despite a timely objection by a party, decides to serve is subject to vacatur under Sections 12(c) and 23(a)(2).

§8712.__Disclosure by arbitrator

1.__Disclosure of interest, relationship. Before accepting appointment, an individual who is requested to serve as an arbitrator, after making a reasonable inquiry, shall disclose to all parties to the agreement to arbitrate and arbitration proceeding and to any other arbitrators any known facts that a reasonable person would consider likely to affect the impartiality of the arbitrator in the arbitration proceeding, including:

A.__A financial or personal interest in the outcome of the arbitration proceeding; and

B.__An existing or past relationship with any of the parties to the agreement to arbitrate or the arbitration proceeding, their counsel or representatives, a witness or another arbitrator.

2. Continuing obligation to disclose.__An arbitrator has a continuing obligation to disclose to all parties to the agreement to arbitrate and arbitration proceeding and to any other arbitrators any facts that the arbitrator learns after accepting appointment that a reasonable person would consider likely to affect the impartiality of the arbitrator.

3.__Ground to vacate award.__If an arbitrator discloses a fact required by subsection 1 or 2 to be disclosed and a party timely objects to the appointment or continued service of the arbitrator based upon the fact disclosed, the objection may be a ground under section 8723, subsection 1, paragraph B for vacating an award made by the arbitrator.

4.__Court may vacate award.__If the arbitrator did not disclose a fact as required by subsection 1 or 2, upon timely objection by a party, the court under section 8723, subsection 1, paragraph B may vacate an award.