In the State of New Jersey the Casino Control Act of 1976 states that ALL Atlantic City casino chips (Except for FunNite) are to be redeemable at the casino's cashiers cage at all times regardless of when they were issued, In the event that a casino changes ownership it is then the requirement that the new owner continue to accept these chips for redemption, if a casino is deemed insolvent or unable to comply with the casino control act in the manner of a first class facility and is closed voluntarily or by order of the Casino Control Commission and no successor has been established then the chips may be redeemed through a special casino fund administered by the state.