(a)
(1) In any case in which punitive damages are sought, any party may request a bifurcated proceeding at least ten (10) days prior to trial.
(2) If a bifurcated proceeding has been requested by either party, then:
(A) The finder of fact first shall determine whether compensatory damages are to be awarded; and
(B) After a compensatory damages award determination, the finder of fact then shall determine whether and in what amount punitive damages will be awarded.
(b) Evidence of the financial condition of the defendant and other evidence relevant only to punitive damages is not admissible with regard to any compensatory damages determination.
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