Oklahoma SB581 authorizes state employees, businesses, and individuals to negotiate and receive payments in gold and silver bullion, directs the.
Oklahoma SB581 allows any employee of the state, businesses, corporations, other entities, and residents to negotiate and receive payment and compensation in gold bullion, silver bullion, or United States dollars. It mandates the State Treasurer to create the Oklahoma Bullion Depository or enter into a contractual agreement to operate it, including developing a fee structure for account services. The bill exempts the sale of gold and silver from income tax. It also outlines provisions for the secure custody, accurate recordkeeping, and processing of account transactions within the depository.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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