It has been discovered that on our ODFI agreements under the UCC 4a information the choice of governing law does not say the State of New York, but instead says our state. Do we need to have our existing agreements amended to say the State of New York or leave them as is and put the State of New York on the agreements from this point forward?

Look in the ACH Rule book for 2005 bottom of page OG15 and top of page OG16. If you choose your state as the governing law make sure it has adopted article 4A, or you can insert New York if you want to just use what NACHA has selected.