§ 5-1402. Choice of forum. 1. Notwithstanding any act which limits or\naffects the right of a person to maintain an action or proceeding,\nincluding, but not limited to, paragraph (b) of section thirteen hundred\nfourteen of the business corporation law and subdivision two of section\ntwo hundred-b of the banking law, any person may maintain an action or\nproceeding against a foreign corporation, non-resident, or foreign state\nwhere the action or proceeding arises out of or relates to any contract,\nagreement or undertaking for which a choice of New York law has been\nmade in whole or in part pursuant to section 5-1401 and which (a) is a\ncontract, agreement or undertaking, contingent or otherwise, in\nconsideration of, or relating to any obligation arising out of a\ntransaction covering in the aggregate, not less than one million\ndollars, and (b) which contains a provision or provisions whereby such\nforeign corporation or non-resident agrees to submit to the jurisdiction\nof the courts of this state.\n 2. Nothing contained in this section shall be construed to affect the\nenforcement of any provision respecting choice of forum in any other\ncontract, agreement or undertaking.\n
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