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Can you summarize 1 COCR 207-1 RULE 13?
GAMING REGULATIONS > PURCHASE AND REDEMPTION OF COINS, CHIPS, AND TOKENS.
Short Summary
This document, part of the Code of Colorado Regulations, specifically the Department of Revenue’s Division of Gaming - Rules promulgated by Gaming Commission, governs the purchase and redemption of coins, chips, and tokens in the gaming industry. It applies to licensees in the industry. The document outlines the conditions under which a licensee may redeem chips or tokens, including redemption by another licensee, an employee of the licensee, or a person engaged in the business of exchanging licensees’ chips and tokens. The document also specifies that licensees may not knowingly sell, use, permit the use of, accept, or redeem chips or tokens issued by another licensee, except in certain circumstances. The exemptions include redemption by a patron for cash, redemption at a game with the licensee’s own chips, and redemption pursuant to the redemption plan provisions. The document does not mention specific penalties for non-compliance.
Whom does it apply to?
Licensees in the gaming industry
What does it govern?
Purchase and redemption of coins, chips, and tokens in the gaming industry
What are exemptions?
Redemption by a patron for cash, redemption at a game with the licensee's own chips, and redemption pursuant to the redemption plan provisions
What are the Penalties?
No specific penalties mentioned
Jurisdiction
Colorado