If the commissioner and the other party shall not agree on the sum so due the commissioner, the matter in dispute may be submitted to three (3) arbitrators selected from the citizens of the state, for settlement; one of the arbitrators shall be chosen by the commissioner, one by the other party, and the third by the two (2) already selected. If the parties shall not agree to submit the case to arbitrators, or if the case is submitted and either party is dissatisfied with the decision of the arbitrators, the case may be decided in a civil action, to be commenced and prosecuted as the circumstances may require, unless the case shall be a matter within the exclusive jurisdiction of the courts of the United States.
R.I. Gen. Laws § 46-10-5