Section 173.003 - Agreement or Bylaw Provision Valid(a) A written agreement to submit a controversy to arbitration at common law is valid and enforceable if the agreement is to arbitrate a controversy that arises between the parties after the date of the agreement.(b) A party may revoke the agreement only on a ground that exists at law or in equity for the revocation of a contract.(c) A provision in the bylaws of a nonprofit corporation incorporated under the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) or under Subchapter C, Chapter 23, Business Organizations Code, that requires a member of the corporation to arbitrate at common law a controversy that subsequently arises between members or between the corporation and its members is a valid, enforceable, and irrevocable agreement by a member of the corporation to arbitrate the controversy.Tex. Civ. Prac. and Rem. Code § 173.003
Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 750,Sec. 3, eff. 6/12/2023.Added by Acts 1997, 75th Leg., ch. 165, Sec. 5.03, eff. 9/1/1997.