West Virginia SB413 establishes the Transactional Gold and Silver Act, recognizing gold and silver as legal tender and setting up bullion.
West Virginia SB413, the Transactional Gold and Silver Act, aims to recognize gold and silver as legal tender within the state. It mandates the State Treasurer's Office to designate or establish bullion depositories for secure storage of gold and silver bullion. The bill also authorizes and approves electronic payment systems to facilitate transactions using gold and silver. The State Treasurer's Office must ensure these systems are reliable, comply with laws, and implement fraud prevention measures.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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