§ 6A-1-301 - Territorial applicability – Parties' power to choose applicable law.
SECTION 6A-1-301
§ 6A-1-301 Territorial applicability– Parties' power to choose applicable law. – (a) Except as otherwise provided in this section, when a transaction bears areasonable relation to this state and also to another state or nation theparties may agree that the law either of this state or of such other state ornation shall govern their rights and duties.
(b) In the absence of an agreement effective under subsection(a), and except as provided in subsection (c), the Uniform Commercial Codeapplies to transactions bearing an appropriate relation to this state.
(c) If one of the following provisions of title 6A specifiesthe applicable law, that provision governs and a contrary agreement iseffective only to the extent permitted by the law so specified:
(1) Section 6A-2-402;
(2) Sections 6A-2.1-105 and 2.1-106;
(3) Section 6A-4-102;
(4) Section 6A-4.1-507;
(5) Section 6A-5-116;
(6) [RESERVED]
(7) Section 6A-8-110;
(8) Sections 6A-9-301 through 9-307.