the new regulation about display of lienses doesn't go into effect until March 1. Until then, you have to display the license above your waist.
Here's how it's worded on the DFG website
In December, the Fish and Game Commission voted to rescind the long-standing requirement that fishing licenses be worn above the waist. This regulation will go into effect March 1, 2010. Until then, all licenses purchased online or from an agent must still be displayed above the waist and clearly visible while fishing.