(a)  The supreme court, the superior court, the family court, the district court, or the traffic tribunal, may, at any time, in its discretion, dismiss actions at law and other proceedings for lack of prosecution that have been pending for five (5) years or more, after notice and opportunity for hearing.

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(b)  Notice that an action or proceeding will be in order for dismissal on a day certain shall be given by the moving party (or by the clerk if upon the court’s own motion) by mailing written notice to the attorney of record, or if there is no attorney of record or the attorney is deceased, then to the party if his or her address appears in the papers of the case. In the event there is no attorney of record, or he or she is deceased, and the address of the party is unknown, notice may be given by insertion of a newspaper advertisement published in a daily newspaper that has circulation in the county or district where the action was instituted, at least once. A certificate of the notice given shall be placed in the papers by the clerk.