Section 3000.1050  Procedures for Exchange of Checks Submitted by Gaming Patrons and Granting Credit

a)         Except as otherwise provided in this Section, no holder of an Owner's license shall make any loan, or otherwise provide or allow to any person any credit or advance of anything of value or which represents value to enable any person to take part in Gaming activity.  The failure to deposit for collection a negotiable instrument by the next banking day following receipt shall be considered an extension of credit.

b)         A holder of an Owner's license may extend credit to a patron only in the manner provided in its Internal Control System approved by the Administrator.

c)         The Internal Control System shall provide:

1)         Each credit transaction is promptly and accurately recorded in appropriate credit records;

2)         Credit may be extended only in a commercially reasonable manner considering the assets, liabilities, prior payment history and income of the patron;

3)         Policies and procedures for the authorization and issuance of check cashing privileges.  These procedures shall include the approval process for establishing check cashing privileges and setting check cashing limits;

4)         Only the following checks may be cashed at a casino cage:

A)        Personal checks;

B)        Cashier's checks;

C)        Money orders;

D)        Credit Card Advance Checks;

E)        Traveler's checks; and

F)         Wire transfer service checks.

d)         No credit shall be extended beyond 30 days.  In the event that a patron has not paid a debt created under this Section within 30 days, a holder of an Owner's license shall not further extend credit to the patron while such debt is outstanding.

e)         A holder of an Owner's license shall be liable as an insurer, for all collection activities on the debt of a patron, whether such activities occur in the name of the owner or a third party.

f)         The holder of an Owner's license shall provide to the Administrator a monthly report detailing credit issued and outstanding, collection activities taken and settlements of all disputed checks and disputed credit card charges.

g)         The value of Chips or Tokens issued to a patron upon the extension of credit, the receipt of a check or other instrument or via a complimentary distribution program shall be included in the computation of Gross Receipts.

h)         A holder of an Owner's license may not issue nor cause to be issued a Voucher as a means of extending credit.

(Source:  Amended at 32 Ill. Reg. 13200, effective July 22, 2008)