12.070 Redemption and disposal of discontinued chips and tokens.

1. A licensee that permanently removes from use or replaces approved chips or tokens at its gaming
establishment, or that ceases operating its gaming establishment whether because of closure or sale of the
establishment or any other reason, must prepare a plan for redeeming discontinued chips and tokens that
remain outstanding at the time of discontinuance. The licensee must submit the plan in writing to the Chair
not later than 30 days before the proposed removal, replacement, sale, or closure, unless the closure or
other cause for discontinuance of the chips or tokens cannot reasonably be anticipated, in which event the
licensee must submit the plan as soon as reasonably practicable. The Chair may approve the plan or require
reasonable modifications as a condition of approval. Upon approval of the plan, the licensee shall
implement the plan as approved.

2. In addition to such other reasonable provisions as the Chair may approve or require, the plan must
provide for:

(a) Redemption of outstanding, discontinued chips and tokens in accordance with this regulation for at
least 120 days after the removal or replacement of the chips or tokens or for at least 120 days after
operations cease, as the case may be, or for such longer or shorter period as the Chair may for good cause
approve or require;
(b) Redemption of the chips and tokens at the premises of the gaming establishment or at such other
location as the Chair may approve;
(c) Publication of notice of the discontinuance of the chips and tokens and of the redemption and the
pertinent times and locations in at least two newspapers of general circulation in Nevada at least twice
during each week of the redemption period, subject to the Chair’s approval of the form of the notice, the
newspapers selected for publication, and the specific days of publication;
(d) Conspicuous posting of the notice described in paragraph (c) at the gaming establishment or other
redemption location; and
(e) Destruction or such other disposition of the discontinued chips and tokens as the Chair may
approve or require.
(Adopted: 6/87.)