W. Va. Code R. § 179-4-141 - Procedures for Exchange of Checks Submitted by Gaming Patrons and Granting Credit

141.1. Except as otherwise provided in this rule, the limited gaming facility licensee shall not make a loan, or otherwise provide credit to an individual to enable an individual to take part in gambling. The failure to deposit a negotiable instrument for collection by the next banking day after presentment by the patron is considered an extension of credit.

141.2. The limited gaming facility licensee may extend credit to a patron only in the manner provided in its internal control system approved by the Commission.

141.3. The internal control system shall ensure both of the following:

141.3.a. That each credit transaction is promptly and accurately recorded in appropriate credit records; and

141.3.b. That credit may be extended only in a commercially reasonable manner considering the assets, liabilities, prior payment history, and income of the patron to the extent available.

141.4. The limited gaming facility licensee shall not extend credit beyond the approved credit line.

141.5. The limited gaming facility licensee shall provide, to the Director, a monthly report detailing credit issued, an aging of outstanding credit amounts, collection activities taken with respect to aging accounts, accounts written off as uncollectible, and settlement of disputed items.

141.6. The value of chips or tokens issued to a patron upon the extension of credit, the receipt of a check or other instrument, the adding of the amount to the patron's master hotel bill or through a complimentary distribution program shall be included in the computation of gross receipts.

Notes

W. Va. Code R. § 179-4-141