HP0124
LD 149		 Session - 126th Maine Legislature
 
 LR 832
Item 1
Bill Tracking, Additional Documents Chamber Status

An Act To Make Gold and Silver Coins and Bars Legal Tender

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 10 MRSA c. 207-A  is enacted to read:

CHAPTER 207-A

GOLD AND SILVER

§ 1258.  Gold and silver legal tender

Gold or silver in coin or bar form is legal tender for all transactions public and private in the State. In order for gold or silver to be used as legal tender under this section, the buyer and seller must agree on the fair market value of the gold or silver.

§ 1259.  Possession of gold and silver

A person may possess any amount of gold or silver in coin or bar form.

Sec. 2. 36 MRSA §1760, sub-§95  is enacted to read:

95.  Gold and silver as legal tender.   The sale of gold or silver in coin or bar form for use as legal tender.

summary

This bill makes gold and silver in coin or bar form legal tender for all transactions as long as the buyer and seller agree as to the fair market value of the gold or silver. This bill also allows the possession of any amount of gold or silver in coin or bar form and exempts from the sales tax the sale of gold or silver in coin or bar form for use as legal tender.

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