Section R. 432.11302 - Submission of extension of credit proceduresRule 1302.
(1) A casino licensee or casino license applicant shall submit procedures for extending credit to the board.(2) Procedures for extending credit shall be in compliance with the act and this rule.(3) Both of the following provisions apply to the submission of extension of credit procedures: (a) A casino licensee or casino license applicant shall submit procedures for extending credit to the board not less than 60 days before the commencement of gambling operations.(b) Procedures for extending credit may not be utilized by a casino licensee unless the procedures for extending credit have been submitted, in writing, and approved by the board.(4) The board may disapprove any portion of the policies or procedures concerning the extension of credit. If the board disapproves a policy or procedures concerning the extension of credit, then the board shall notify the casino licensee, in writing, of the disapproval.(5) Access to the credit information, outstanding credit instruments, and credit instruments that have been written off is restricted to occupational licensees who require access and who are authorized by management to have access.Mich. Admin. Code R. 432.11302