S.D. Admin. R. 20:18:20:11

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:18:20:11 - Destruction of counterfeit chips and tokens

As used in this section, "counterfeit chips or tokens" means any chip or token-like objects that have not been approved pursuant to this chapter, including objects commonly referred to as "slugs," but not including coins of the United States or any other nation. Unless a law enforcement officer instructs or a court of competent jurisdiction orders otherwise in a particular case, licensees must destroy or otherwise dispose of counterfeit chips and tokens discovered at their establishments in a manner approved or required by the executive secretary.

Unless a law enforcement officer instructs or a court of competent jurisdiction orders otherwise, licensees may dispose of coins of the United States or any other nation discovered to have been unlawfully used in their establishments by including them in their coin inventories; in the case of foreign coins, by exchanging them for United States currency or coins and including the exchanged currency or coins in their currency or coin inventories; or by disposing of them in any other lawful manner.

In addition to other information the executive secretary may require, the licensee must record the following information:

(1) The number and denominations, actual and purported, of the coins and counterfeit chips and tokens destroyed or otherwise disposed of pursuant to this section;

(2) The month during which they were discovered;

(3) The date, place, and method of destruction or other disposition, including, in the case of foreign coin exchanges, the exchange rate and the identity of the bank, exchange company, or other business at which or person with whom the coins are exchanged; and

(4) The names of the persons carrying out the destruction or other disposition on behalf of the licensee.

Each licensee must maintain a record required by this section for at least three years, unless the executive secretary approves otherwise.

S.D. Admin. R. 20:18:20:11

16 SDR 157, effective 10/1/1989; 40 SDR 121, effective 1/6/2014.

General Authority: SDCL 42-7B-7.

Law Implemented: SDCL 42-7B-7, 42-7B-11(13).