Establishes gold and silver transactional currency system; designates Commissioner of Banking and Insurance as administrator; provides legal tender status; authorizes fees.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill proposes establishing a gold and silver transactional currency system in New Jersey, backed by physical gold and silver held in trust. The Commissioner of Banking and Insurance would administer the system, and qualifying gold and silver specie would be recognized as legal tender. The bill authorizes fees for issuance and redemption, and allows for contracts with private vendors to operate the electronic currency system. Participation is voluntary, and holders have full redemption rights.
Bill text
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Document of record
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Sponsors
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1 on record
Primary sponsor
Robert Singer
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