HB 1342 Summary

• Adds "credit instrument" definition allowing excursion gambling boat licensees to accept written checks, negotiable instruments, or automatic bank drafts from qualified persons authorizing withdrawal of extended credit within 30 days, excluding interest-bearing loans or collateral-secured extensions.

• Establishes "qualified person" criteria requiring completion of a credit application, credit check, and meeting the licensee's creditworthiness standards, with approval granted by occupational license holders and no additional checks required for subsequent credit instruments from the same person.

• Makes credit instruments valid, enforceable contracts creating debt enforceable by legal process, with the Missouri Gaming Commission having no authority to determine validity, enforceability, or enforceability of the debt represented.

• Allows licensees to accept multiple credit instruments from the same person for consolidation or redemption of previous instruments, with lost or destroyed instruments remaining valid if existence and terms can be proven.

• Specifies that violations of commission regulations do not impact the validity or enforceability of credit instruments or associated debt, and violations are subject only to penalties under Section 313.812.