Territorial applicability; parties' power to choose applicable law.

(b) Where 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, including the conflict of laws rules, so specified: Rights of creditors sold goods. Section 42a-2-402 . Applicability of the article on leases. Sections 42a-2A-105 and 42a-2A-106 . Applicability of the article on bank deposits and collections. Section 42a-4-102 . Governing law in the article on funds transfers. Section 42a-4A-507 . Letters of credit. Section 42a-5-116 . Applicability of the article on investment securities. Section 42a-8-110 . Law governing perfection, the effect of perfection or nonperfection and the priority of security interests and agricultural liens. Sections 42a-9-301 to 42a-9-307 , inclusive. Annotations to former section 42a-1-105: Cited. 189 C. 591. Cited. 14 CA 481. Cited. 37 CS 7. Cited. 6 Conn. Cir. Ct. 539.