Enacting the revisions to the general provisions of the uniform +commercial code (UCC) and a revised article 7 recommended by the national conference +of commissioners on uniform state laws ARTICLE 1 � REVISION OF UNIFORM COMMERCIAL CODEPART 1 � General Provisions "Uniform Commercial Code-General Provisions"; stating the scope, +purposes and policies of the law and the applicability of supplemental principles,+ severablility clause; providing for the interpretation of singular +and plural words and words indicating gender; modifying and superseding the +federal electronic signatures in global and national commerce act; +establishing the uniform commercial code account PART 2 � General Definitions and Principles of Interpretation Defining certain terms; providing for the distinguishment of leases +from security interests, for the giving of value for rights, for the +determination of reasonable time and for interpretation of presumptions PART 3 � Territorial Applicability and General Rules Providing for territorial applicability and for the power of parties +to choose applicable law; authorizing variation of the law by agreement; +defining course of performance, course of dealing and usage of trade; imposing an +obligation of good faith; requiring the liberal administration of remedies; +authorizing the discharge of claims or rights resulting from alleged breaches; +providing for the treatment of certain third party documents as prima facie +evidence, for performance or acceptance under reservation of rights and for the +option to accelerate at will; authorizing subordinated obligations; repealing +the general provisions of the existing uniform commercial code ARTICLE 2 � CONFORMING AMENDMENTS TO OTHER UCC ARTICLESMaking conforming amendments to certain other uniform commercial code+ articles regulating sales, leases, negotiable instruments, bank deposits and collections, fund transfers, letters of credit, investment securities+ and secured transactions; repealing certain provisions relating to the +course of performance of contracts under sales and leases regulations ARTICLE 3 � GENERAL CONFORMING AMENDMENTSMaking conforming amendments to certain other statutory provisions +relating to agricultural contracts, off highway motorcycles, all-terrain vehicles+ (ATVs), watercraft titling, motor vehicle titles, the storage of grain on +farms, uniform electronic transactions, credit agreements and crop liens ARTICLE 4 � UNIFORM COMMERCIAL CODE ARTICLE 7-DOCUMENTS OF TITLEPART 1 - General "Uniform Commercial Code-Documents of Title"; defining certain terms;+ providing for the relationship of the article to treaties or statutes; +regulating negotiable and nonnegotiable documents of title; authorizing the +issuance of tangible documents of title as a substitute for electronic documents +under certain conditions; providing for control of electronic documents of +title PART 2 � Warehouse Receipts: Special Provisions Specifying the persons authorized to issue warehouse receipts and +regulating alteration; providing for the consideration of receipts for goods +under storage bonds as warehouse receipts and for the form and effect of the +receipts; imposing liability for nonreceipt or misdescription and a duty of +care; providing for warehouse termination of storage; regulating warehouse +liens PART 3 � Bills of Lading: Special Provisions Imposing liability for nonreceipt or misdescription of bills of +lading; regulating through bills of lading and similar documents of title; +providing for diversion, reconsignment and change of instructions in the +delivery of goods; regulating tangible and altered bills of lading and carrier +liens; imposing a duty of care PART 4 � Warehouse Receipts and Bills of Lading: General Obligations Imposing obligations on issuers of warehouse receipts and on delivery+ bailees; regulating duplicate documents of title PART 5 � Warehouse Receipts and Bills of Lading: Negotiation and +Transfer Regulating the form of negotiable tangible documents of title; +specifying the rights acquired by due negotiation and in absence of due negotiation; specifying the effect of diversion or stoppage of the delivery of +goods; specifying the liability of indorsers and the rights of transferees; +providing for certain warranties PART 6 � Warehouse Receipts and Bills of Lading: Miscellaneous +Provisions Providing for the effect of lost, stolen or destroyed documents of +title and regulating conflicting claimsPART 7 � Miscellaneous Provisions Specifying the effective date of the act; repealing the existing +provisions regulating warehouse receipts; specifying the applicability of the +act; savings clause ARTICLE 5 � UNIFORM COMMERCIAL CODE CONFORMING CHANGESMaking conforming amendments to certain other provisions of the +uniform commercial code (UCC) regulating sales, leases, bank deposits and +collections, investment securities and secured transactions ARTICLE 6 � MISCELLANEOUS CONFORMING CHANGESMaking conforming amendments to certain other statutory provisions +relating to grain storage and the enforcement of liens (mk)