Credit Instrument (Gaming Law) Law and Legal Definition
Credit instrument is a written evidence of a person’s obligation of debt or a document that serves as a proof to a debt. In relation to gaming, the debt would be owed to the person who holds a license to conduct gaming activities. A creator of debt will be subjected to state's long-arm statute.
The following is an example of a state statute (Nevada) defining the term Credit instrument :
According to Nev. Rev. Stat. Ann. § 463.01467, Credit instrument means “a writing which evidences a gaming debt owed to a person who holds a non restricted license at the time the debt is created, and includes any writing taken in consolidation, redemption or payment of a previous credit instrument”.
