§ 5-1402. Choice of forum. 1. Notwithstanding any act which limits or
affects the right of a person to maintain an action or proceeding,
including, but not limited to, paragraph (b) of section thirteen hundred
fourteen of the business corporation law and subdivision two of section
two hundred-b of the banking law, any person may maintain an action or
proceeding against a foreign corporation, non-resident, or foreign state
where the action or proceeding arises out of or relates to any contract,
agreement or undertaking for which a choice of New York law has been
made in whole or in part pursuant to section 5-1401 and which (a) is a
contract, agreement or undertaking, contingent or otherwise, in
consideration of, or relating to any obligation arising out of a
transaction covering in the aggregate, not less than one million
dollars, and (b) which contains a provision or provisions whereby such
foreign corporation or non-resident agrees to submit to the jurisdiction
of the courts of this state.

2. Nothing contained in this section shall be construed to affect the
enforcement of any provision respecting choice of forum in any other
contract, agreement or undertaking.