10 Del. Admin. Code § 203-25.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 203-25.0 - Credit; Verification and Authorization; Voluntary Suspension of Credit Privileges

25.1 Except as otherwise provided in these regulations, no licensed agent or any licensed person or any person acting on behalf of or under any arrangement with a licensed agent or other licensed person shall, in connection with the conduct of table game operations:

25.1.1 Cash any check, make any loan, or otherwise provide or allow any person any credit or advance of anything of value or which represents value to enable any person to take part in gaming activity as a player; or

25.1.2 Release or discharge any debt which is uncollectible, either in whole or in part, which represents any losses incurred by any player in gaming activity without maintaining a written record of the deposit, check return and collection efforts; or

25.1.3 Make any loan which represents any losses incurred by any player in gaming activity without receiving from said player in exchange therefore a check in the amount of said loan, which check shall conform with these regulations.

25.2 A licensed agent may extend credit to a patron in a commercially reasonable manner considering assets, liabilities, income and prior credit and payment history of the patron only in a manner established in an agent's internal control procedures as approved by the Director.

25.3 A credit file for each patron shall be prepared either manually or by computer prior to the agent's approval of a patron's credit limit. A credit file shall include, at a minimum, the following:

25.3.1 The patron's name;

25.3.2 The address of the patron's residence;

25.3.3 The telephone number at the patron's residence;

25.3.4 Banking information including:

25.3.4.1 The name and location of the patron's bank; and

25.3.4.2 The account number of the patron's personal checking account upon which the patron is individually authorized to draw and upon which all counter checks and all checks used for substitution, redemption or consolidation will be drawn.

25.3.5 The credit limit requested by the patron;

25.3.6 The approximate amount of all other outstanding indebtedness;

25.3.7 The amount and source of income and assets in support of the requested credit limit;

25.3.8 The patron's signature indicating acknowledgement of the following statement, which shall be included at the bottom of every credit application form containing the information required to be submitted by the patron pursuant to this subsection:

"I certify that I have reviewed all of the information provided above and that it is true and accurate. I authorize (insert the name of the agent) to conduct such investigations pertaining to the above information as it deems necessary for the approval of my credit limit. I am aware that this application is required to be prepared by the regulations of the Delaware Lottery and I may be subject to civil or criminal liability if any material information provided by me is willfully false."

25.3.9 All verifications performed and the signature of the individual performing such verifications together with the date and time such verifications are completed;

25.3.10 A brief summary of any other information used to support the credit limit and the key factors relied upon in approving or reducing the requested credit limit and any changes thereto;

25.3.11 The approved credit limit and any changes thereto and the signature of the individual(s) authorizing the credit limit, together with the date and time such authorization is granted;

25.3.12 If a computerized credit file is utilized, the authorization code of the employee approving the credit limit, together with the date and time of the activation in the system which shall be recorded by the system before any actual extension of credit; and

25.3.13 All transactions affecting a patron's outstanding indebtedness to the agent.

25.4 Prior to the approval of a patron's credit limit, an individual with no ability to grant credit or credit limit increases shall perform all necessary verifications as required by the MICS and delineated in the agent's approved internal control submission.

25.5 Prior to the issuance of any counter check, the credit limit and any changes thereto must be approved by an individual with no incompatible functions, as required by the MICS and delineated in the agent's approved internal control submission, and such approval must be documented as required in Section 25.3 above.

25.6 Prior to the issuance of any counter check, an agent shall verify that the patron's name is not designated on the master list of persons who have voluntarily or involuntarily been excluded pursuant to Section 7 of these regulations.

10 Del. Admin. Code § 203-25.0