Establishes the Bayou Gold Program to certify businesses offering gold- and silver-backed transactional services.
The Bayou Gold Program, established by Louisiana HB797, provides a voluntary certification framework for businesses offering gold- and silver-backed transactional services. The Louisiana Department of the Treasury administers the program, maintaining a registry of certified businesses and authorizing the use of a Bayou Gold Program name, logo, or certification mark. Businesses must meet criteria such as holding allocated precious metals, ensuring customer ownership, and maintaining allocated ownership policies. Certification is valid for two years and can be renewed.
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