Restrictions on advancement of monies on security of check; posting of fees charged for deferred presentment services

(A) A licensee may not advance monies on the security of a check unless the account on which the presented check is drawn is a legitimate, open, and active account. (B) A licensee, in every location conducting business under a license issued pursuant to this chapter, conspicuously shall post and at all times display a notice stating the fee charged for deferred presentment services. A licensee shall file with the board a statement of the fees charged at every location licensed for deferred presentment services. (C) A licensee shall endorse in the name of the licensee every check, draft, or money order presented by the licensee for payment or deposit.