1. a) A person may not enforce a security interest in gaming property collateral except as set forth in this Subpart. Any attempt to enforce a security interest is void if the secured party has not complied with the requirements of this Subpart.
2. b) This Subpart does not apply to the enforcement of a security interest in property other than gaming property collateral.

3. c) Compliance with this Subpart does not constitute any of the following:

   1. 1) a determination by the Board as to the validity or enforceability of a security interest;

4. 2) licensing eligibility;

   1. 3) approval of any other sale, transfer or other disposition of the gaming property collateral after the enforcement of the security interest.

(Source: Added at 35 Ill. Reg. 1369, effective January 5, 2011)