1. Whenever a controversy shall arise between an employer and his or her employees which cannot be settled by mediation and conciliation in the manner provided in NRS 614.010 , such controversy may, with the consent of the parties to the controversy, be submitted to the arbitration of a board of three persons who shall be chosen in the following manner. One shall be named by the employer directly interested, and one shall be named by the labor organization to which the employees directly interested belong, or if they belong to more than one, such arbitrator shall be agreed upon and designated by the concurrent action of all such labor organizations. The two thus chosen shall select the third commissioner of arbitration. In the event of their failure to name such arbitrator within 5 days after their first meeting, the three arbitrators shall be named by the Governor. 2. A majority of the arbitrators shall be competent to make a binding and valid award under the provisions of NRS 614.010 to 614.080 , inclusive.
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