Laws 2004, chapter 162, applies to a document of title that is issued or a bailment that arises on or after August 1, 2004. Laws 2004, chapter 162, does not apply to a document of title that is issued or a bailment that arises before August 1, 2004, even if the document of title or bailment would be subject to Laws 2004, chapter 162, if the document of title had been issued or bailment had arisen on or after August 1, 2004. Laws 2004, chapter 162, does not apply to a right of action that has accrued before August 1, 2004.