A licensee may refinance a short-term loan provided that all of the following apply to the refinanced loan:

(A) The loan is a short-term loan.

(B) Interest on the loan does not exceed a rate of twenty-eight per cent per annum.

(C) The licensee does not charge, collect, or receive the monthly maintenance fee described in division (B) of section 1321.40 of the Revised Code.