Establishes the Transactional Gold and Silver Act in Minnesota, recognizing gold and silver specie as legal tender.

The bill establishes the Transactional Gold and Silver Act in Minnesota, recognizing gold and silver specie as legal tender. It requires the commissioner of commerce to authorize a bullion depository to securely store gold and silver bullion. The depository must provide vault facilities, comply with best practices, and offer accounts for bullion transactions. The commissioner must also authorize at least one electronic payment system for bullion transactions.

Establishes the Transactional Gold and Silver Act in Minnesota, recognizing gold and silver specie as legal tender.

The bill establishes the Transactional Gold and Silver Act in Minnesota, recognizing gold and silver specie as legal tender. It requires the commissioner of commerce to authorize a bullion depository to securely store gold and silver bullion. The depository must provide vault facilities, comply with best practices, and offer accounts for bullion transactions. The commissioner must also authorize at least one electronic payment system for bullion transactions.