ยง 7601. Special proceeding to enforce agreement that issue or
controversy be determined by a person named or to be selected. A special
proceeding may be commenced to specifically enforce an agreement that a
question of valuation, appraisal or other issue or controversy be
determined by a person named or to be selected. The court may enforce
such an agreement as if it were an arbitration agreement, in which case
the proceeding shall be conducted as if brought under article
seventy-five of this chapter. Where there is a defense which would
require dismissal of an action for breach of the agreement, the
proceeding shall be dismissed. Provided, however, that this section
shall not apply to any agreement contained in the standard fire
insurance policy of the state with the exception of an action to enforce
the appraisal clause pursuant to section three thousand four hundred
eight of the insurance law which shall not be enforced as an arbitration
agreement.