W. Va. Code R. § 179-8-123

Current through Register Vol. XLI, No. 43, October 25, 2024

Section 179-8-123 - Handling of Returned Checks

123.1. The casino licensee shall establish policies and procedures approved by the Commission in the same manner as the procedures for extension of credit for the handling of returned checks.

123.2. A returned check shall be received and documented on a returned check log by a department independent of both the casino cage and the credit department. If the licensee uses a check-cashing service, then the licensee shall establish a procedure for the retention of copies of returned checks.

123.3. The casino licensee shall establish procedures for collecting and recording checks returned to the casino licensee after deposit, including redeposit procedures.

123.4. The casino licensee's collections department shall maintain a continuous record of all returned checks. The records shall contain all of the following information:

123.4.a. The original date of the check;

123.4.b. The name and address of the drawer of the check;

123.4.c. The amount of the check;

123.4.d. The date the check was dishonored; and

123.4.e. The date or dates and amount or amounts of any collections received on the check after being returned by a bank.

123.5. A returned check is considered the issuance of credit and shall be handled in accordance with the collection of credit.

123.6. The casino licensee shall describe its procedures for notifying the casino cage, credit departments, or the equivalent of credit departments of returned checks and of the prohibition from granting further credit to patrons whose checks have been returned and remain unsatisfied.

W. Va. Code R. § 179-8-123