| (1) |
Specie legal tender is legal tender in the state. |
Terms Used In Utah Code 59-1-1502
- Contract: A legal written agreement that becomes binding when signed.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Person: means :Utah Code 68-3-12.5
- specie legal tender: means gold or silver coin that is issued by the United States. See Utah Code 59-1-1501.1
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
| (2) |
Except as expressly provided by contract, a person may not compel any other person to tender or accept specie legal tender. |
| (3) |
Gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is considered to be specie legal tender and is legal tender in the state if:
| (a) |
a court of competent jurisdiction issues a final, unappealable judgment or order determining that the state may recognize the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, as legal tender in the state; or |
| (b) |
Congress enacts legislation that:
| (i) |
expressly provides that the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is legal tender in the state; or |
| (ii) |
expressly allows the state to recognize the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, as legal tender in the state. |
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Amended by Chapter 399, 2012 General Session
