| 1 | 1 | | SB130INTRODUCED |
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| 2 | 2 | | Page 0 |
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| 3 | 3 | | SB130 |
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| 4 | 4 | | WQIXE5E-1 |
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| 5 | 5 | | By Senator Melson |
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| 6 | 6 | | RFD: Banking and Insurance |
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| 7 | 7 | | First Read: 06-Feb-25 |
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| 12 | 12 | | 5 WQIXE5E-1 08/06/2024 TRP (F)tgw 2024-2280 |
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| 13 | 13 | | Page 1 |
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| 14 | 14 | | First Read: 06-Feb-25 |
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| 15 | 15 | | SYNOPSIS: |
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| 16 | 16 | | "Legal tender" is defined as coins and banknotes |
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| 17 | 17 | | recognized by the United States Government. |
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| 18 | 18 | | This bill would provide that refined gold and |
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| 19 | 19 | | silver bullion, specie, or certain coins may be |
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| 20 | 20 | | recognized as legal tender. |
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| 21 | 21 | | A BILL |
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| 22 | 22 | | TO BE ENTITLED |
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| 23 | 23 | | AN ACT |
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| 24 | 24 | | Relating to legal tender; to provide that refined gold |
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| 25 | 25 | | and silver bullion, specie, or coins shall be considered legal |
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| 26 | 26 | | tender in the state. |
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| 27 | 27 | | BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: |
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| 28 | 28 | | Section 1. This act shall be known and may be cited as |
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| 29 | 29 | | the Alabama Legal Tender Act. |
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| 30 | 30 | | Section 2. (a) Any refined gold or silver bullion, |
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| 31 | 31 | | specie, or coin that has been stamped, marked, or imprinted |
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| 32 | 32 | | with its weight and purity shall be recognized as legal tender |
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| 33 | 33 | | in the State of Alabama. |
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| 34 | 34 | | (b) No person shall be required to offer or accept any |
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| 35 | 35 | | recognized legal tender as described in subsection (a) for |
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| 36 | 36 | | payment of debts, deposit, or any other purpose, nor shall any |
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| 37 | 37 | | person incur any liability for refusing to offer or accept |
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| 65 | 65 | | 28 SB130 INTRODUCED |
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| 66 | 66 | | Page 2 |
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| 67 | 67 | | person incur any liability for refusing to offer or accept |
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| 68 | 68 | | such legal tender, except as specifically provided for by |
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| 69 | 69 | | contract or otherwise required by law. |
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| 70 | 70 | | Section 3. This act shall become effective on October |
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| 71 | 71 | | 1, 2025. |
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