The bill enacts a new section, Part XIV of Chapter 3 of Title 6 of the Louisiana Revised Statutes, specifically R.S. 6:341, which establishes provisions regarding the recognition of gold and silver as legal tender in Louisiana. It states that any gold or silver coin, specie, or bullion issued by the state or the United States government will be acknowledged as legal tender within the state.

Additionally, the bill clarifies that individuals are not obligated to offer or accept this recognized legal tender for the payment of debts or deposits, nor will they face any liability for refusing to do so, unless specified by contract. This legislation aims to formalize the status of gold and silver as legal tender while ensuring that acceptance remains voluntary.