Bill Text: TX SB1245 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the use of certain coins and bullion as legal tender.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-04-16 - Left pending in committee [SB1245 Detail]
Download: Texas-2015-SB1245-Introduced.html
| 84R10718 GRM-D | ||
| By: Burton | S.B. No. 1245 | |
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| relating to the use of certain coins and bullion as legal tender. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle A, Title 15, Business & Commerce Code, | ||
| is amended by adding Chapter 662 to read as follows: | ||
| CHAPTER 662. GOLD AND SILVER COIN AND GOLD AND SILVER BULLION AS | ||
| LEGAL TENDER | ||
| Sec. 662.001. LEGAL TENDER IN THIS STATE. Gold and silver | ||
| coin and gold and silver bullion are legal tender in this state to | ||
| the extent allowable under Section 10, Article I, United States | ||
| Constitution. | ||
| Sec. 662.002. USE OF GOLD OR SILVER COIN OR GOLD OR SILVER | ||
| BULLION. (a) A person may use gold or silver coin or gold or | ||
| silver bullion as legal tender in this state for the payment of any | ||
| private or public debt. | ||
| (b) Notwithstanding Subsection (a), a person may not be | ||
| compelled to accept or tender gold or silver coin or gold or silver | ||
| bullion. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2015. | ||
