CO SB259

Licensees extending credit for limited gaming must evaluate the borrower's credit-worthiness using an independent source and assess their credit history with affiliated gaming operations in Colorado and other states.

Licensees must confirm the borrower has no outstanding debt and has no convictions for gaming-related crimes including cheating, fraud, or use of prohibited devices before extending credit.

Licensees must inform borrowers orally and in writing that financial obligations must be fully repaid within 150 days, with interest charges possible after 90 days of non-payment.

Credit extensions must be documented on division-provided forms showing the credit amount, maximum interest rate, total repayment amount due, and licensee's right to pursue legal remedies for non-repayment.

Licensees must preserve credit extension records for at least three years and make them available to the division within five business days of request; minimum credit extension is $1,000.