Mo. Rev. Stat. § 408.010 — MO Code / Chapter 408 / Section 408.010
408.010 Constitutional money act — electronic specie currency accepted as legal ...
Status: in_force

408.010. Constitutional money act — electronic specie currency accepted as legal tender — rules — payment and compensation by, requirements — definitions. — 1. This section shall be known and may be cited as the "Constitutional Money Act".

2. Electronic specie currency shall be accepted as legal tender for payment of all public debts hereafter contracted in the state of Missouri and specie legal tender and electronic specie currency may be accepted as payment for all private debts hereafter contracted in the state of Missouri, in the discretion of the receiving entity; provided, however, that no person shall have the right to pay, upon any one debt, dimes and half dimes to an amount exceeding ten dollars, or of twenty and twenty-five cent pieces exceeding twenty dollars. Upon receiving a request for payment to a public entity using electronic specie, the custody agent, or other entity responsible for transmitting the payment to the public entity shall transmit the funds in United States dollars.

3. The director of the department of revenue shall promulgate rules on the methods of acceptance of electronic specie currency as payment for any debt, tax, fee, or obligation owed. Any rule or portion of a rule, as that term is defined in section 536.010 , that is created under the authority delegated in this subsection shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028 . This subsection and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2025, shall be invalid and void.

4. Except as expressly provided by contract, no person or entity shall be required to use specie legal tender or electronic specie currency in the payment of any debt and nothing in this section shall prohibit the use of federal reserve notes in the payment of any debt.

5. Any entity doing business in this state may, if requested by an employee, pay compensation to such employee, in full or in part, in the dollar-equivalent specie legal tender either in physical or in electronic transfer form. Any entity choosing to compensate its employees in specie legal tender shall be responsible for verifying the weight and purity of any physical specie legal tender before compensating employees.

6. Under no circumstance shall the state of Missouri or any department, agency, political subdivision, or instrumentality thereof:

(1) Seize from any person any specie legal tender or electronic specie currency that is owned by such person, except as otherwise provided in section 513.607 . Any person whose specie legal tender or electronic specie currency is seized in violation of this subdivision shall have a cause of action in a court of competent jurisdiction, with any successful such action resulting in the award of attorney's fees;

(2) Enforce or attempt to enforce any federal acts, laws, executive orders, administrative orders, rules, regulations, statutes, or ordinances infringing on the right of a person to keep and use specie legal tender and electronic specie currency as provided in this section;

(3) Restrict in any way the ability of a person or financial institution to acquire specie legal tender or electronic specie currency or use specie legal tender or electronic specie currency in transactions; or

(4) Enact any law discriminating or favoring one means of legal tender in the course of a transaction over another means of legal tender.

7. For purposes of this section, the following terms mean:

(1) "Bullion" , refined precious metal, limited to gold and silver only, in any shape or form, with uniform content and purity, including, but not limited to, coins, rounds, bars, ingots, and any other products, that are:

(a) Stamped or imprinted with the weight and purity of the precious metal that it contains; and

(b) Valued primarily based on its metal content and not on its form and function;

(2) "Electronic specie currency" , a representation of actual gold and silver, specie, and bullion held in an account, which may be transferred by electronic instruction. Such representation shall reflect the exact unit of physical specie or gold and silver bullion in the account in its fractional troy ounce measurement as provided in this section;

(3) "Legal tender" , a recognized medium of exchange for the payment of debts, public charges, taxes, or dues that is:

(a) Authorized by the United States Congress pursuant to Article I, Section 8 of the United States Constitution; or

(b) Authorized by Missouri law pursuant to Article I, Section 10 of the United States Constitution;

(4) "Precious metal" , gold or silver;

(5) "Specie" , bullion fabricated into products of uniform shape, size, design, content, weight, and purity that are suitable for or customarily used as currency, as a medium of exchange, or as the medium for purchase, sale, storage, transfer, or delivery of precious metals in retail or wholesale transactions;

(6) "Specie legal tender" , includes any of the following:

(a) Specie coin issued by the federal government at any time; and

(b) Any other specie, provided such specie does not contain any insignia, symbols, or other recognizable logos of the Nazi Party.

(RSMo 1939 § 3359, A.L. 2025 H.B. 754) Prior revisions: 1929 § 2972; 1919 § 7100; 1909 § 8099