A. Each gaming operator licensee shall maintain, in the manner required or approved by the board:

1. (1) cash or cash equivalents in an amount equal to the value of the highest possible jackpot that could be won from a single gaming machine at the gaming establishment plus the value of the cash winnings and non-cash prizes to be paid in periodic payments or such higher amount as the board may determine; and
2. (2) if the gaming operator licensee operates a progressive system, cash or cash equivalents equal to the total of all progressive jackpots that may be won at the location, unless the board has approved payment of progressive jackpots by annuity.

B. If at any time the licensee’s available cash or cash equivalents are less than the amount required by this section, the licensee shall immediately notify the board’s audit and compliance division of the deficiency.

[12/31/98; 15.1.8.19 NMAC - Rn, 15 NMAC 1.8.19, 10/15/00; A, 2/28/05; A, 6/30/08; A, 10/15/15]