LOU LEG Gold, Silver Legal Tender

On May 28, LOU LEG enacted bill to set gold and silver as legal tender.

  • LOU LEG enacted Bill SB 232 to establish gold and silver as legal tender.
  • Legal Tender
  • Enacted LOU LEG 6:341 to establish that gold or silver coin, specie, bullion issued by any state/US government as legal tender will be recognized in the State of Louisiana.
  • No person will be required to offer or accept the legal tender to pay debts, deposit, or any other purpose, nor incur liability for refusing to offer or accept such legal tender.
  • Legislative History
  • On Mar. 11, 2024, bill introduced in Senate; on May 20, 2024, bill passed in Senate.
  • On Apr. 9, 2024, bill introduced in House; on May 15, 2024, bill was passed in House.
  • On May 23, 2024, bill sent to governor; on May 28, 2024, bill approved as Act 396.
  • Effectiveness
  • Act 396 becomes effective as of Aug. 1, 2024.

Regulators LOU LEG
Entity Types Bank
Reference Act 396, Bill SB232, 5/28/2024; Citation: LOU LEG 6;
Functions Compliance; Financial; Legal; Treasury
Countries United States of America
Products Banking; Commodities; Deposits; Payments
Regions Am
Rule Type Final
Rule Date 5/28/2024
Effective Date 8/1/2024
Rule Id 214343
Linked to N/A
Reg. Last Update 5/28/2024
Report Section US Banking

Last substantive update on 06/05/2024