Establishes the Mississippi Bullion Depository to serve as the custodian, guardian, and administrator of bullion and specie.
The Mississippi Bullion Depository is established as an agency of the state in the Office of the State Treasurer. It serves as the custodian, guardian, and administrator of certain bullion and specie that may be transferred to or acquired by the state or its agencies. The depository can receive deposits of bullion or specie from individuals, trustees, or fiduciaries. It must record deposits in troy ounces and specify the type and quantity of each precious metal. The depository cannot pay interest, fees, or other payments for the use of deposited money, bullion, specie, or precious metals.
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