La. Admin. Code tit. 42 § III-4315

Current through Register Vol. 50, No. 11, November 20, 2024

Section III-4315 - Redemption and Disposal of Discontinued Chips and Tokens

A. A licensee or casino operator that permanently removes from use or that replaces approved chips or tokens at its casino, or that ceases operating its casino, shall prepare a plan for redeeming discontinued chips and tokens that remain outstanding at the time of discontinuance. The licensee or casino operator shall submit the plan in writing to the division not later than 30 days before the proposed removal, replacement, or cessation of gaming operations, unless the cause for discontinuance of the chips or tokens cannot be reasonably anticipated, in which event the licensee or casino operator shall submit the plan as soon as reasonably practicable. The division may approve the plan or require reasonable modifications as a condition of approval. Upon approval of the plan, the licensee or casino operator shall implement the plan as approved.

B. In addition to such other reasonable provisions as the division may approve or require, the plan shall provide for:

1. redemption of outstanding or discontinued chips and tokens, in accordance with this Subsection, for at least 120 days after the removal or replacement of the chips or tokens, for at least 120 days after operations cease, or for a period as the division may approve or require;

2. redemption of the chips and tokens at the casino or at such other location as the division may approve;

3. publication of notice of the discontinuance of the chips and tokens, the redemption period and the redemption location with times of operation in at least two newspapers of general circulation in Louisiana. The notice shall be published at least twice during each week of the redemption period and shall be subject to the division's approval of the form of the notice, the newspapers selected for publication, and the specific days of publication;

4. conspicuous posting of the notice described in Paragraph B.3 of this Section at the casino or other redemption location; and

5. destruction or such other disposition of the discontinued chips and tokens as the division may approve or require.

C. The destruction or disposition of discontinued chips and tokens shall be to the satisfaction of the division.

La. Admin. Code tit. 42, § III-4315

Promulgated by the Department of Public Safety and Corrections, Gaming Control Board, LR 38:1684 (July 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 27:15 and 24.