Mich. Admin. Code R. 432.11307

Current through Vol. 24-19, November 1, 2024

Section R. 432.11307 - Receipt of payments

Rule 1307. A casino licensee shall establish policies and procedures approved by the board in accordance with these rules to ensure that all payments received on outstanding credit instruments are recorded in a timely fashion. The procedures shall, at a minimum, include all of the following:

(a) A description of the procedure for processing payments received by the casino licensee in any manner.

(b) Requirements for the consolidation of markers.

(c) A detailed description of the distribution of all parts of redeemed and consolidated markers and redemption vouchers.

(d) A detailed allocation of principal and interest on each payment made, if any.

Mich. Admin. Code R. 432.11307

1998-2000 AACS