BASIS AND PURPOSE FOR RULE 13
The purpose of Rule 13 is to establish procedures for the use, redemption, destruction, and disposal of chips and tokens, and to require wagers to be made only with cash, chips or tokens in compliance with sections 12-47.1-819, C.R.S. and 12-47.1-825, C.R.S. The statutory basis for Rule 13 is found in sections 12-47.1-201, C.R.S., 12-47.1-203, C.R.S., 12-47.1-302, C.R.S., 12-47.1-819, C.R.S., and 12-47.1-825, C.R.S.
RULE 13     PURCHASE AND REDEMPTION OF COINS, CHIPS, AND TOKENS
47.1-1306 Forms of wagers 
All wagers must be made with United States currency or corns coins, or with chips or tokens furnished by the retail licensee, or credit valid match play coupons or with other forms of wagers as approved by the Division.
47.1-1308 Check Cashing Practices. 
(1)  Definitions: For purposes of this regulation, the following terms are adopted, defined, and   clarified: 
(a) “Check” means a written OR ELECTRONIC (E-CHECK) unconditional order to pay or deliver a sum certain in money, drawn on a Financial Institution, payable on demand, and signed or authorized by one or more drawer, whether negotiable or non-negotiable. “Check” includes drafts, checks issued through credit institutions (also known as credit card checks and Com-Checks), warrants, negotiable orders of withdrawal, counter checks, and any other means of ordering the payment of money. 
(b) “Dishonored” includes any check which is returned to a licensee (whether actually, or constructively, by delivery to a Financial Transaction Agent) by the Financial Institution upon which it was drawn, for any reason pertaining to the inability to honor or pay the instrument, including, but not limited to reasons of insufficient funds, mistake, closed account, or stop payment or hold orders. 
(c) “Financial Institution” includes a bank, depository, or other person which provides financial, banking, and similar services for investors, depositors, and debtors. 

 (d) “Financial Transaction Agent” includes a factor, collection agent or agency, accounts receivable agent or agency, accountant, or any other type of Financial Institution, which acts pursuant to an agreement with a licensee whereby the Financial Transaction Agent is charged with securing the collection of any Dishonored check from its maker, by any means, whether with or without recourse to return the collection account to the licensee as uncollectible.

(2) Acceptance of checks by licensees. 
(a) Checks for participation in limited gaming by patrons may only be accepted at the cage or authorized ticket redemption kiosk.
(b)   All checks receipted or accepted into the cage shall be considered received for participation in limited gaming, unless documented and accounted for separately as nongaming funds (including, but not limited to, food and beverage, hotel, services, and product sales). 
(c) Once receipted into or accepted at the cage, checks may only be repurchased by the maker thereof after the check has been dishonored by the maker's Financial Institution.
 
(d) Checks shall not be accepted under any conditions, terms, or agreements which render them not payable on demand. Such circumstances shall include, but are not limited to, post-dating of checks, unsigned checks and holding checks out of the deposit made most recently after acceptance of the check.

(e)  No licensee shall accept a check issued for participation in limited gaming from any patron under the following circumstances: 
(i)      When the maker (and endorser of a third party check, if any) thereof has previously issued a check to the licensee for any purpose, and the licensee has actual notice, or 24 hours of constructive notice, that the previous check is Dishonored, until such time as all claims of licensee against the maker of the check, arising from the Dishonored check, are satisfied in full (whether by accord and satisfaction, payment, or liquidation of judgment). 
(ii)     When the licensee, through the exercise of reasonable diligence, should have known that the check being considered for receipt into or acceptance at the cage may be Dishonored. 

(f) Violation of this paragraph (2)(c), 2(4), or 2(e) constitutes a prohibited credit transaction.