Section 34-39-170 - 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.1998 Act No. 433, Section 1, eff upon approval (became law without the Governor's signature on June 11, 1998).