R 432.11206 Procedures for exchange of checks submitted by gaming patrons and granting credit.

Rule 1206. (1) Except as otherwise provided in this rule, a casino licensee shall not make a loan, or otherwise provide credit to an individual to enable an individual to take part in gambling. The failure to deposit a negotiable instrument for collection by the next banking day after the instrument is received shall be considered an extension of credit. (2) A casino licensee may extend credit to a patron only in the manner provided in its internal control system approved by the board. (3) The internal control system shall ensure both of the following: (a) That each credit transaction is promptly and accurately recorded in appropriate credit records. (b) That credit may be extended only in a commercially reasonable manner considering the assets, liabilities, prior payment history, and income of the patron to the extent available. (4) Credit shall not be extended beyond the approved credit line. (5) A casino licensee shall provide, to the executive director, a monthly report detailing credit issued, an aging of outstanding credit amounts, and collection activities taken with respect to aging accounts and accounts written off as uncollectible. (6) In accordance with the act, the value of chips or tokens issued to a patron upon the extension of credit, the receipt of a check or other instrument, or through a complimentary distribution program shall be included in the computation of gross receipts.