Section 1800.910  Approvals Required, Applicability, Scope of Approval

a)         A person may not enforce a security interest in gaming property collateral except as set forth in this Subpart.  Any attempt to enforce a security interest is void if the secured party has not complied with the requirements of this Subpart.

b)         This Subpart does not apply to the enforcement of a security interest in property other than gaming property collateral.

c)         Compliance with this Subpart does not constitute any of the following:

1)         a determination by the Board as to the validity or enforceability of a security interest;

2)         licensing eligibility;

3)         approval of any other sale, transfer or other disposition of the gaming property collateral after the enforcement of the security interest.

(Source:  Added at 35 Ill. Reg. 1369, effective January 5, 2011)