House Bill 1150

(As Passed the House)

AN ACT TO PROVIDE THAT IN CONNECTION WITH ANY INTERNATIONAL CONTRACT BETWEEN THE BOARD OF TRUSTEES OF STATE INSTITUTIONS OF HIGHER LEARNING OR ONE OF THE STATE'S INSTITUTIONS OF HIGHER LEARNING AND ANY PARTY OUTSIDE OF THE UNITED STATES, THE BOARD OR INSTITUTION THAT IS A PARTY TO THE INTERNATIONAL CONTRACT MAY INCLUDE IN THE CONTRACT A PROVISION FOR THE RESOLUTION BY ARBITRATION OF ANY CONTROVERSY; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Notwithstanding any other provision of Sections 11-15-101 through 11-15-143 to the contrary, in connection with any international contract between the Board of Trustees of State Institutions of Higher Learning or one of the state's institutions of higher learning and any party outside of the United States, the board or institution that is a party to the international contract may include in the contract a provision for the resolution by arbitration of any controversy between the parties to the contract relating to the contract or the failure or refusal to perform any part of the contract. The provision shall be valid, enforceable and irrevocable without regard to the justifiable character of the controversy. However, if either party to the contract initiates litigation against the other with respect to the contract, the arbitration provision shall be deemed waived unless asserted as a defense on or before the responding party is required to answer the litigation.

SECTION 2. This act shall take effect and be in force from and after its passage.