R 432.11312 Write-off of past due accounts.

Rule 1312. (1) A casino licensee shall establish policies and procedures for the write- off of past due markers and returned checks. The procedures shall be approved by the board in the same manner as the extension of credit. The procedures shall, at a minimum, satisfy both of the following provisions: (a) A write-off committee shall be established. (b) Authorize write-off by the write-off committee. The policies and procedures shall be submitted in accordance with R 432.11302.Amendments to the policies and procedures shall be handled in accordance with R 432.11303. (2) If it is determined that a casino licensee failed to comply with this part when extending credit or cashing checks and the casino licensee determines that the past due marker or returned check is uncollectible, then the casino licensee is not entitled to include the marker or check when calculating the uncollectible gaming receivables deduction in computing the wagering tax.