You are correct...they must post notice of redemption in at least 2 publications and I think for 60days if memory serves me corectly.Now in case of a bankruptsy....who knows.
If you put a strike on the pass line,the dealer would probably change it up for a chip but in theory he does not have to. He would of course pay it off in chips!The boxman would be in total confusion and it would be fun to watch since the live gaming types probably have no idea what it is. In fact a Gaming token is considered "tender" for that casino and even though they do not have to, usually in N Nevada they accept other casino's chips and do a mass redemption when they accumulate enough.

A gaming license is too precious an item for the Sundowner to mess aound with...who needs trouble for such a small item in the scheme of Millions of dollar anyway!