Section R. 432.1828 - Inventory of chipsRule 828.
(1) Chips shall be taken from or returned to either the reserve chip inventory or the secondary set of chips in the presence of not less than 2 individuals, 1 of whom shall be a manager or an individual from the security department. The denominations, number, and amount of chips taken or returned shall be recorded in the chip inventory ledger together with the date and signatures of the individuals carrying out the process.(2) A casino licensee shall, on a monthly basis, compute and record the unredeemed liability for each denomination of chips and ensure that an inventory of chips in circulation is made and ensure that the result of the inventory is recorded in the chips inventory ledger. On a monthly basis, a casino licensee shall ensure that an inventory of chips in reserve is made and ensure that the result of the inventory is recorded in the chip inventory ledger. A casino licensee shall submit the procedures to be utilized to compute the unredeemed liability and to inventory chips in circulation and reserve to the board for approval. A physical inventory of chips in reserve shall be required biennially if the inventory procedures incorporate the sealing of the locked compartment.(3) During nongaming hours, a casino licensee shall ensure that all chips in the possession of the casino are stored in the chip bank, in the vault, in a locked compartment in a cashier's cage, or in another secured area. However, chips may be locked in a transparent compartment on the live gaming device if there is adequate security as approved by the board.Mich. Admin. Code R. 432.1828
1998-2000 AACS; 2019 MR 9, Eff. 5/17/2019