Unless the arbitration agreement provides otherwise, the conduct of the arbitration shall be subject to the following rules:
- (1) The locale for the arbitration is the county in which the subject property, or the major portion of that property, is located.
- (2) The law of this state relating to the criteria for ascertaining just compensation and damages, and the elements thereof, shall be applied.
- (3) The arbitration tribunal shall be the judge of the relevancy and materiality of the evidence offered, and conformity to the legal rules of evidence shall not be required.
- (4) The amount of compensation determined by the arbitration award must be within the range of the evidence presented by the parties.
- (5) The condemnor shall pay the compensation of and all expenses and fees incurred by the arbitrators.
(Acts 1985, No. 85-548, p. 802, §1506.)