68 IAC 14-16-3 Destruction of counterfeit chips

Sec. 3. (a) Unless: (1) the executive director; (2) the commission; (3) a gaming agent; or (4) a law enforcement officer; instructs or a court of competent jurisdiction orders otherwise in a particular case, a riverboat licensee shall destroy or otherwise dispose of counterfeit chips discovered in the riverboat in a manner approved by the executive director in accordance with subsection (c). (b) Unless the executive director, the commission, a gaming agent, or a law enforcement officer instructs or a court of competent jurisdiction orders otherwise in a particular case, a riverboat licensee may dispose of coins of the United States or any other nation discovered to have been incorrectly used in the riverboat or, in the case of foreign coins, by: (1) exchanging them for United States currency or coins and including same in their currency; or (2) disposing of them in any other lawful manner. (c) The riverboat licensee shall notify the executive director, in writing, at least thirty (30) days before counterfeit chips are destroyed, of the following information: (1) The number and denominations, actual and purported, of the coins and counterfeit chips to be destroyed or otherwise disposed of under this rule. (2) The date on which they were discovered. (3) The anticipated date, place, and method of destruction or other disposition, including, in the case of foreign coin exchanges, the: (A) exchange rate; and (B) identity of the bank, exchange company, or other business or person at which or with whom the coins are to be exchanged. (4) The names of the occupational licensees that will carry out the destruction or other disposition on behalf of the riverboat licensee. (5) Any other information deemed necessary by the executive director or the commission to ensure compliance with the Act and this title. (d) Unless otherwise approved by the executive director, at least two (2) people, one (1) of whom is a gaming agent or other employee of the commission, shall be present when the counterfeit chips are destroyed. (e) Unless the executive director notifies the riverboat licensee or riverboat license applicant within thirty (30) days of the receipt of the letter set forth in subsection (c), the method of destruction will be deemed approved. (f) Each riverboat licensee shall maintain records required by this rule for at least five (5) years.