§73.1208 requires that any programming that is pre-recorded but if there is an impression created that the programming is live must be disclosed as a pre-recorded program.
As long as you do not record voice tracks that suggest the programming is "live", there should not be an issue. Avoid having programs with the word "Live" in the name unless they are truly live. If such a show is rebroadcast, you MUST disclose that the program was previously recorded.
LPFM program content/station operations/noncommercial nature