(a)

1. (1) Each credit application must contain a statement approved by the Arkansas Racing Commission, separately signed by the patron, and in a font size of not less than nine (9) points, acknowledging the patron’s understanding, that under Arkansas law a credit instrument is the same as a personal check, and knowingly writing a credit instrument with insufficient funds in the account upon which it is drawn, or with intent to defraud, is a criminal act in the State of Arkansas which may result in criminal prosecution.
2. (2) The following language, if used on a credit application, is deemed approved: Warning: For the purposes of Arkansas law, a credit instrument is identical to a personal check and may be deposited in or presented for payment to a bank or other financial institution on which the credit instrument is drawn. Willfully drawing or passing a credit instrument with the intent to defraud, including knowing that there are insufficient funds in an account upon which it may be drawn, is a crime in the State of Arkansas which may result in criminal prosecution in addition to civil proceedings to collect the outstanding debt.

(b)

1. (1) Each credit instrument must contain a notification, approved by the commission, permanently and legibly printed on the face of the original credit instrument, in a font size of not less than six (6) points, that notifies the patron of the requirements of Arkansas law regarding personal checks.
2. (2) The following language, if used on a credit instrument, is deemed approved: A credit instrument is identical to a personal check. Willfully drawing or passing a credit instrument knowing there are insufficient funds in an account upon which it may be drawn, or with the intent to defraud, is a crime in the State of Arkansas which may result in criminal prosecution.

(d)

1. (1) Credit applications and credit instruments issued by licensees to patrons after the effective date of this section must contain the required wording.
2. (2) Such documentation issued by licensees to patrons before the effective date need not include the required disclosures.