A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 34-31-30 SO AS TO PROVIDE THAT LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE, INCLUDES ONLY GOLD COINS, SILVER COINS, AND UNITED STATEs CURRENCIES.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Chapter 31, Title 34 of the S.C. Code is amended by adding:

 

    Section 34-31-30.  (A) Notwithstanding any other provision of law, legal tender for all debts, public or private, includes only gold coin, silver coin, or United States currency.

    (B) For purposes of this section:

       (1) "Gold coin" means a precious metal with the chemical element of atomic number 79 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which is valued for its metal content and stamped or imprinted with its weight and purity and which solid form of chemical element atomic number 79 consists of at least 99.5 percent purity. The term does not include any goods, such as jewelry, or other items of utility, such as picture frames or collectables.

       (2) "Silver coin" means a precious metal with the chemical element of atomic number 47 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which is valued for its metal content and is stamped or imprinted with its weight and purity and which solid form of chemical element atomic number 47 consists of at least 99.9 percent purity. The term does not mean any goods, such as jewelry, or other items of utility, such as picture frames or collectables.

 

SECTION 2.  This act takes effect upon approval by the Governor.

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