New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 69D - GAMING OPERATION ACCOUNTING CONTROLS AND STANDARDS
Subchapter 1 - GENERAL PROVISIONS
Section 13:69D-1.28 - Procedure for depositing checks received from gaming patrons

Universal Citation: NJ Admin Code 13:69D-1.28

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Unless redeemed or consolidated prior to the time requirements herein, all checks received from gaming patrons shall be deposited in the casino licensee's bank account, or presented directly to the patron's bank by a casino key employee with no incompatible function or an attorney. Such deposit or presentment shall occur no later than:

1. The banking day after the date of the check for a non-gaming check;

2. Seven calendar days after the date of the check for a check in an amount of $ 1,000 or less;

3. Fourteen calendar days after the date of the check for a check in an amount greater than $ 1,000 but less than or equal to $ 5,000; or

4. Forty-five calendar days after the date of the check for a check in an amount greater than $ 5,000.

(b) In computing a time period prescribed by this section, the last day of the period shall be included unless it is a Saturday, Sunday, or a State or Federal holiday, in which event the time period shall be extended to the next business day.

(c) In the event of a series of consolidation or redemption transactions with a patron, the initial check shall be the earliest dated check returned to the patron in the first of the series of consolidation or redemption transactions.

(d) In accordance with 5:12-101, if a check is presently directly to a patron's bank for payment by a casino key employee or an attorney, the casino licensee shall:

1. Document the release of the patron check from the cashiers' cage;

2. Require the prompt deposit by the casino key employee or attorney, of the proceeds of the check to the casino's bank account via a wire transfer or a check drawn by the patron's bank and made payable only to the casino licensee, if the patron's check is honored and paid; and

3. Require the person presenting the check for payment to provide written notice to the casino licensee that the check has been paid in full by the patron's bank.

(e) If a casino licensee determines, prior to the deposit or presentment of a Counter Check or Slot Counter Check that the bank name, the bank routing number, the patron's bank account number, or the micro-encoding number contained on the check are incorrect due to a data entry error (for example, a misspelling, a wrong number, or a transposition of numbers), a check bank cashier may correct the erroneous entry with the written approval of a cage supervisor prior to the alteration of any check. If a customer notifies the credit department that the bank account on file is closed and provides a new account that is approved by the credit department, a check bank cashier may, with the written approval of a cage supervisor, alter the check to utilize the new account. Except as provided herein, a casino licensee may not use this subsection to change the verified bank account on which the Counter Check or Slot Counter Check was originally drawn.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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