Section 71 IAC 9-2.5-2 - Patron checksAuthority: IC 4-31-3-9
Affected: IC 4-31
Sec. 2.
(a) The association may accept checks from patrons, personal or otherwise, provided that such checks are submitted to the association's bank for payment no later than the following business day. The returning of checks to patrons or buying back of checks is prohibited, except when the check(s) have been deposited to the association's bank for payment and thereafter returned to the association.(b) The association may not accept postdated checks.(c) The association shall report to the commission any time the liability to a person for a returned unpaid check or checks equals or exceeds three thousand dollars ($3,000). Such report shall be made to the commission in writing within forty-eight (48) hours of receipt of the returned checks.(d) This section shall not apply to checks for the payment of horsemen's fees.Indiana Horse Racing Commission; 71 IAC 9-2.5-2; emergency rule filed Mar 25, 1997, 10:00 a.m.: 20 IR 2161; readopted filed Oct 30, 2001, 11:50 a.m.: 25 IR 899; readopted filed Mar 23, 2007, 11:31 a.m.: 20070404-IR-071070030RFA; readopted filed November 26, 2013, 11:25 a.m.: 20131225-IR-071130345RFAReadopted filed 8/28/2019, 1:23 p.m.: 20190925-IR-071190319RFAReadopted filed 8/3/2023, 12:49 p.m.: 20230830-IR-071230428RFA