R 432.11310 Handling of returned checks.

Rule 1310. (1) A casino licensee shall establish policies and procedures approved by the board in the same manner as the procedures for extension of credit for the handling of returned checks. (2) A returned check is received and documented on a returned check log by a department independent of the casino cage or credit department, or both. If the licensee uses a check-cashing service, then the licensee shall establish a procedure for the retention of copies of returned checks. (3) Procedures shall be established for collecting and recording checks returned to a casino licensee after deposit, including redeposit procedures. (4) A continuous record of all returned checks shall be maintained by a collections department. The records shall contain all of the following information: (a) Original date of the check. (b) Name and address of the drawer of the check. (c) Amount of the check. (d) Date the check was dishonored. (e) Date or dates and amount or amounts of any collections received on the check after being returned by a bank. (5) A returned check is considered the issuance of credit and is handled in a ccordance with the collection of credits. (6) Procedures shall be described for notifying the casino cage, credit departments, or the equivalent of credit departments of returned checks and of the prohibition from granting further credit to patrons whose checks have been returned and remain unsatisfied.