(a) This chapter applies only to the arbitration of a controversy between members of an association or corporation or between a corporation and its members if the association or corporation is:
(1) exempt from the payment of federal income taxes under Section 501(a) of the Internal Revenue Code of 1986 by being listed as an exempt organization under Section 501(c) of the code; or
(2) incorporated under:
(A) the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon’s Texas Civil Statutes); or
(B) Subchapter C, Chapter 23, Business Organizations Code.
(b) This chapter does not apply to the arbitration of a controversy between:
(1) members of:
(A) a property owners’ association, as defined by § 209.002, Property Code;
(B) a condominium council of owners, as defined by § 81.002, Property Code; or
(C) a condominium unit owners’ association organized under § 82.101, Property Code; or
(2) an association or council of owners described by Subdivision (1) and a member of that association or council of owners.