Sec. 505.5. (a) As used in this section, "automated loan machine" means an unmanned machine that performs routine lending functions. (b) A licensee may make loans through an automated loan machine at an offsite location if the licensee: (1) notifies the department in writing of the existence and location of the automated loan machine; (2) maintains at a location licensed or approved by the department the books, accounts, records, and files concerning transactions performed through the automated loan machine; and (3) posts at the offsite location where the automated loan machine is located the: (A) address where the books, accounts, records and files are located; and (B) telephone number at which the licensee may be contacted.
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