1(1) 2As used in this section, the term “pharmacy benefit manager” means a person or entity doing business in this state which contracts to administer prescription drug benefits on behalf of a health insurer or a health maintenance organization to residents of this state.
45(2) 46Effective January 1, 2019, to conduct business in this state, a pharmacy benefit manager must register with the office. To initially register or renew a registration, a pharmacy benefit manager shall submit:78(a) 79A nonrefundable fee not to exceed $500.
86(b) 87A copy of the registrant’s corporate charter, articles of incorporation, or other charter document.
101(c) 102A completed registration form adopted by the commission containing:1111. 112The name and address of the registrant.
1192. 120The name, address, and official position of each officer and director of the registrant.
134(3) 135The registrant shall report any change in information required by subsection (2) to the office in writing within 60 days after the change occurs.
159(4) 160Upon receipt of a completed registration form, the required documents, and the registration fee, the office shall issue a registration certificate. The certificate may be in paper or electronic form and shall clearly indicate the expiration date of the registration. Registration certificates are nontransferable.
204(5) 205A registration certificate is valid for 2 years after its date of issue. The commission shall adopt by rule an initial registration fee not to exceed $500 and a registration renewal fee not to exceed $500, both of which shall be nonrefundable. Total fees may not exceed the cost of administering this section.
258(6) 259The commission shall adopt rules necessary to implement this section.
