Kan. Admin. Regs. § 112-104-12

Current through Register Vol. 43, No. 46, November 14, 2024

Section 112-104-12 - Cash equivalents

Each facility manager's internal control system shall include internal controls for the acceptance and verification of cash equivalents. The internal controls shall be submitted to and approved by the commission according to K.A.R. 112-104-1. The internal controls developed and implemented by the facility manager shall include the following:

(a) A requirement that cage employees perform the specific verification procedures required by the issuer of each cash equivalent accepted. The facility manager shall retain adequate documentation evidencing the verification of each cash equivalent;

(b) a requirement that cage employees examine each cash equivalent for counterfeiting, forgery or alteration;

(c) if a facility manager elects to incorporate in its verification procedures a level of reliance on previously accepted cash equivalents, a description of the general parameters governing the reliance;

(d) the criteria for cage supervisor involvement in the verification process;

(e) the procedures for verifying any patron signature on the cash equivalent. Signature verification shall be accomplished in accordance with the signature verification procedures in K.A.R. 112-104-10. The facility manager shall retain adequate documentation evidencing how each signature was verified; and

(f) for cash equivalents equaling or exceeding $500.00, verification of the validity of the cash equivalent with the financial institution upon which it is drawn. The gaming cashier shall document how the verification was performed in connection with the acceptance of each cash equivalent.

Kan. Admin. Regs. § 112-104-12

Authorized by and implementing K.S.A. 2007 Supp. 74-8772; effective Sept. 26, 2008.