Oklahoma HB1197 authorizes the State Treasurer to create or contract a bullion depository and issue transaction cards for gold and silver deposits.
Oklahoma HB1197 allows the State Treasurer to establish or contract a bullion depository for gold and silver. It also authorizes the issuance of transaction cards to state citizens, enabling purchases debited from their deposit balances. The bill mandates the development of a fee structure for these services, paid by account holders. Transactions involving gold and silver in the depository and card usage are recognized as legal tender. The depository's gold and silver are not considered commodities, and their transfer or sale for transactions is not deemed a commodity exchange.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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