Mich. Admin. Code R. 432.11309 - Check cashing
Rule 1309.
(1) A
casino licensee shall establish policies and procedures approved by the board
in accordance with these rules in connection with cashing checks or drafts by
the casino licensee. Only the following types of checks may be cashed by the
casino licensee:
(a) Personal
checks.
(b) Drafts.
(c) Cashier's checks.
(d) Money orders.
(e) Credit card and debit card advance
checks.
(f) Traveler's
checks.
(g) Wire transfers and
other kinds of checks approved by the board.
(2) A casino licensee shall establish
check-cashing privileges and limits that shall, at a minimum, incorporate the
procedures established in
R
432.11304.
(3) For all checks cashed, all of the
following procedures shall be followed:
(a)
Examine the patron's picture identification and compare the signature on the
identification credential to the signature on the check to ensure agreement.
If the signatures do not match, then the casino licensee shall not extend credit to the patron.
(b) Date stamp the check.
(c) Initial the check.
(d) Count out, in full public view and in the
view of the surveillance camera, the funds requested by the patron.
(4) If personal checks are cashed,
then the cashier shall perform the procedures outlined in subrule (3) of this
rule and all of the following additional procedures:
(a) Record the picture identification number
if the check is under $500.00 and check-cashing privileges have not been
established by the patron.
(b)
Determine if the patron's available credit is sufficient to cover the amount of
the personal check, if applicable.
(c) A personal check may not be cashed if the
patron has a balance outstanding, due to checks previously cashed by the casino
licensee, for more than 30 days.
(d) A personal check will be held against
established credit lines for the earlier of 7 days or the date that the check
cleared the financial institution upon which it was drawn.
Notes
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