This chapter applies to transactions entered into and events occurring after the effective date thereof.
(1) The following acts and all other acts and parts of acts inconsistent herewith are hereby repealed:
(a) The Uniform Negotiable Instruments Act;
(b) the Uniform Warehouse Receipts Act;
(c) the Uniform Stock Transfer Act;
(d) the Uniform Conditional Sales Act;
(e) the Uniform Trust Receipts Act;
(2) Transactions validly entered into before the effective date specified in section 10-101 and the rights, duties and interest flowing from them remain valid thereafter and may be terminated, completed, consummated or enforced as required or permitted by any statute or other law amended or repealed by this chapter as though such repeal or amendment had not occurred.
Except as provided in the following section, all acts and parts of acts inconsistent with this chapter are hereby repealed.
(1) The article on documents of title (article 7) does not repeal or modify any laws prescribing the form or contents of documents of title or the services or facilities to be afforded by bailees, or otherwise regulating bailees' businesses in respects not specifically dealt with herein; but the fact that such laws are violated does not affect the status of a document of title which otherwise complies with the definition of a document of title (section 1-201).
(2) This chapter does not repeal article 4d of chapter 31 cited as the Simplification of Fiduciary Security Transfers, and if in any respect there is any inconsistency between that article and the article of this chapter on investment securities (article 8) the provisions of the former article shall control.