This bill authorizes the State Treasurer of Oklahoma to create or contract for the operation of a bullion depository and to issue transaction cards to citizens, allowing them to make purchases debited from their deposits in the depository. The Treasurer is required to establish procedures for sharing account information with the depository and to develop a fee structure for account holders utilizing these services.

Additionally, the bill stipulates that deposits of gold and silver in the bullion depository, as well as transactions made using the issued transaction cards, will be considered legal tender, rather than commodities. This means that the buying, selling, or transferring of gold and silver in the depository will be treated as currency exchanges. The State Treasurer is also granted the authority to promulgate rules to implement these provisions, with the act set to take effect on November 1, 2025.