Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 33 By: Bullard
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6 AS INTRODUCED
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7 An Act relating to the State Treasurer; authorizing
7 the Treasurer to create, operate, or contract for the
8 operation of a depository and issue certain
8 transaction cards; requiring the Treasurer to provide
9 certain procedures and develop fee structure upon
9 certain circumstance; stipulating certain deposits
10 and transactions be considered the exchange of legal
10 tender; authorizing account holders issued a
11 transaction card to make transactions debited against
11 the value of deposits; authorizing the promulgation
12 of rules; providing for codification; and providing
12 an effective date.
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15 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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16 SECTION 1. NEW LAW A new section of law to be codified
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17 in the Oklahoma Statutes as Section 70 of Title 62, unless there is
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18 created a duplication in numbering, reads as follows:
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19 A. The State Treasurer shall be authorized to issue a
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20 transaction card to citizens of this state with the ability to make
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21 purchases that are debited from the balance of deposits with a
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22 bullion depository created by the Office of the State Treasurer or
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23 contracted with other public or private entities operating a bullion
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24 depository.
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Req. No. 37 Page 1
1 B. Upon the creation of a depository or a contractual agreement
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2 with an entity pursuant to subsection A of this section, the Office
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3 of the State Treasurer shall:
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4 1. Provide procedures for the sharing of account information
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5 between the depository and the Treasurer upon consent of the account
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6 holder; and
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7 2. Develop a fee structure for both the depository and the
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8 Treasurer, to be paid by the account holder, to utilize the service
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9 provided by a bullion depository.
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10 SECTION 2. NEW LAW A new section of law to be codified
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11 in the Oklahoma Statutes as Section 70.1 of Title 62, unless there
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12 is created a duplication in numbering, reads as follows:
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13 A. Deposits of gold and silver in the bullion depository and
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14 transactions made using the transaction card issued by the State
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15 Treasurer shall be considered legal tender, pursuant to the
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16 authority vested upon this state in Section 10 of Article I of the
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17 United States Constitution. Deposits of gold and silver in the
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18 bullion depository shall not be considered a commodity. The
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19 transfer, buying, or selling of gold and silver held in the
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20 depository for transactions shall not be considered an exchange of a
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21 commodity, and shall be considered an exchange of currency.
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22 B. Account holders issued a transaction card may make
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23 transactions debited against the value of gold and silver deposits
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24 in the bullion depository.
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Req. No. 37 Page 2
1 C. The State Treasurer may promulgate rules to implement the
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2 provisions of this act.
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3 SECTION 3. This act shall become effective November 1, 2025.
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5 60-1-37 QD 12/16/2024 10:59:58 PM
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Req. No. 37 Page 3Every fact on this page links to its source, starting with the official bill record.