Tennessee HB2427 recognizes gold and silver as legal tender and establishes a framework for their use in transactions.
Tennessee HB2427 amends Tennessee Code Annotated, Title 9, Chapter 4, to recognize gold and silver as legal tender. Specie can be used for private debts and state obligations if mutually agreed upon. The bill defines "bullion," "bullion depository," and "electronic payment system." The treasurer is tasked with establishing a bullion depository and authorizing an electronic payment system for specie transactions. The system must ensure privacy and prevent seizure without due process. The treasurer must submit annual reports on the depository and system operations.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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