OK HB1197

State Treasurer or contracted third-party vendor authorized to issue transaction cards to U.S. citizens for purchases debited from bullion depository balances

Office of State Treasurer required to establish procedures for sharing account information between the depository and Treasurer with account holder consent, and develop a fee structure paid by account holders

Gold and silver deposits in the bullion depository and transactions made with the transaction card declared legal tender under Article I, Section 10 of the U.S. Constitution

Gold and silver in the depository classified as currency rather than a commodity, meaning transfers and transactions are treated as currency exchanges, not commodity exchanges

Effective date of November 1, 2025