Definitions

Definitions. As used in this Article, the term: (a) “Casino credit instrument” means a gaming guarantee, marker, or any other writing which evidences a gaming debt owed to a person who holds a casino gaming license in any senatorial district of the Commonwealth and includes any writing taken in consolidation, redemption or payment of a previous credit instrument. (b) “Commission” means the casino gaming commission authorized to regulate a casino gaming licensee in each respective senatorial district of the Commonwealth. (c) “Credit” means an arrangement or understanding with a person, firm, corporation, bank or depository for the payment of a check or other written instrument evidencing a debt. (d) “Gaming debt” means a debt, evidenced by a writing, which is incurred from gambling or participation in a lawful game or other lawful wagering activity offered by a casino licensee in a senatorial district of the Commonwealth. It also includes a debt, evidenced by a writing, which is owed to junket operator licensed by the Commission, by a person who traveled to the Commonwealth as part of a junket for gambling or participation in a lawful game or other lawful wagering activity offered by a casino licensee in a senatorial district of the Commonwealth. (e) “Gaming guarantee” means a promissory note or any other written promise accepted by a licensee as security for extending credit to an identified patron for gaming purposes in which the maker or signer unconditionally guarantees payment to the licensee of the full amount of the credit extended to and used by the identified patron. The term does not include a check as defined by 5 CMC § 3104. (f) “Licensee” or “Casino Licensee” means any person, corporation or other entity that holds a lawful casino gaming license in any senatorial district of the Commonwealth. (g) “Marker” means a dated instrument bearing the following information: the name of the player; the name, location, and account number of the player’s bank; and the instruction “Pay to the Order of” the casino for a specific value in United States dollars or such other currency approved by the Commission. The marker also contains a stipulation whereby the maker represents that the amount drawn by the marker is on deposit in the referenced financial institution, and that the maker guarantees payment. (h) Unless provided otherwise in this Article or other statute, the definitions in 5 CMC 10 §3102 shall apply with respect to financial documents or financial disputes involving or relating to a casino licensee in any senatorial district. Source: PL 20-85 § 3 (Jan. 7, 2019), modified; amended by PL 21-38 § 19 (Jan. 7, 2021). Commission Comment: The Commission changed “Act” to “Article” in the section title and subsection (h) pursuant to 1 CMC § 3806(d) and modified the quotations marks in (f) and (g) pursuant to 1 CMC § 3806(g).