11-1-301. Territorial applicability; parties’ power to choose applicable law.

Except as otherwise provided in this Code section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties.#

In the absence of an agreement under subsection (a) of this Code section, and except as provided in subsection (c) of this Code section, this title applies to transactions bearing an appropriate relation to this state.#

If one of the following provisions of this title specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law so specified:#

1. (1)

   Code Section 11-2-402;#

2. (2)

   Code Sections 11-2A-105 and 11-2A-106;#

3. (3)

   Code Section 11-4-102;#

4. (4)

   Code Section 11-4A-507;#

5. (5)

   Code Section 11-5-116;#

6. (6)

   Reserved;#

7. (7)

   Code Section 11-8-110;#

8. (8)

   Code Sections 11-9-301 through 11-9-307; or#

9. (9)

   Code Section 11-12-107.#