N.M. Admin. Code § 15.1.12.12

Current through Register Vol. 35, No. 23, December 10, 2024

Section 15.1.12.12 - DISCONTINUED TOKENS

A. Any gaming operator licensee that permanently removes tokens from use or replaces approved tokens at its gaming establishment or ceases gaming activities must prepare a plan for redeeming discontinued tokens that remain outstanding at the time of discontinuance. The licensee must submit the plan, in writing, to the board at least 30 days before the proposed removal, replacement or closure. The board may approve the plan or require reasonable modifications as a condition of approval. Upon approval, the gaming operator licensee must implement the plan as approved.

B. In addition to any other provision required by the board, the plan must provide for:

(1) redemption of outstanding, discontinued tokens for at least 90 days after removal or replacement of the tokens or closure of the gaming establishment, or for such other period as the board requires;

(2) redemption of the tokens at the licensed premises or at such other location as approved by the board;

(3) posting in a conspicuous place on the licensed premises notice of discontinuance of the tokens and redemption and the relevant times and locations at which tokens may be redeemed; and

(4) destruction or such other disposition of the discontinued or replaced tokens as set forth in section 15.1.12.14 of this rule.

N.M. Admin. Code § 15.1.12.12

N, 12/31/98; 15.1.12.12 NMAC - Rn, 15 NMAC 1.12.12, 2/14/02