(a)No person, business entity, or other entity shall act as or hold itself out to be a pharmacy benefits manager in this state, other than an applicant licensed in this state for the kinds of business for which it is acting as a pharmacy benefits manager, unless such person, business entity, or other entity holds a license as a pharmacy benefits manager issued by the Commissioner pursuant to this chapter. The license shall be renewable on an annual basis. Failure to hold such license shall subject such person, business entity, or other entity to the fines and other appropriate penalties as provided in Chapter 2 of this title.
(b)An application for a pharmacy benefits manager's license or an application for renewal of such license shall be accompanied by a filing fee of $2,000.00 for an i
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(a) No person, business entity, or other entity shall act as or hold itself out to be a pharmacy benefits manager in this state, other than an applicant licensed in this state for the kinds of business for which it is acting as a pharmacy benefits manager, unless such person, business entity, or other entity holds a license as a pharmacy benefits manager issued by the Commissioner pursuant to this chapter. The license shall be renewable on an annual basis. Failure to hold such license shall subject such person, business entity, or other entity to the fines and other appropriate penalties as provided in Chapter 2 of this title. (b) An application for a pharmacy benefits manager's license or an application for renewal of such license shall be accompanied by a filing fee of $2,000.00 for an initial license and $1,000.00 for renewal. (c) A license shall be issued or renewed by the Commissioner unless the Commissioner finds that the applicant for or holder of the license: (1) Has intentionally misrepresented or concealed any material fact in the application for the license; (2) Has obtained or attempted to obtain the license by misrepresentation, concealment, or other fraud; (3) Has committed fraud; (4) Has failed to obtain for initial licensure or retain for annual licensure renewal a net worth of at least $200,000.00; or (5) Has violated any provision of this chapter while on probation, if for license renewal. (d) If the Commissioner moves to suspend, revoke, or nonrenew a license for a pharmacy benefits manager, the Commissioner shall provide notice of that action to the pharmacy benefits manager, and the pharmacy benefits manager may invoke the right to an administrative hearing in accordance with Chapter 2 of this title. (e) No licensee whose license has been revoked as prescribed under this Code section shall be entitled to file another application for a license within five years from the effective date of the revocation or, if judicial review of such revocation is sought, within five years from the date of final court order or decree affirming the revocation. The application when filed may be refused by the Commissioner unless the applicant shows good cause why the revocation of its license shall not be deemed a bar to the issuance of a new license. (f) Appeal from any order or decision of the Commissioner made pursuant to this chapter shall be taken as provided in Chapter 2 of this title. (g) (1) The Commissioner shall have the authority to issue a probationary license to any applicant under this title. (2) A probationary license may be issued for a period of not less than three months and not longer than 12 months and shall be subject to immediate revocation for cause at any time without a hearing. (3) The Commissioner shall prescribe the terms of probation, may extend the probationary period, or refuse to grant a license at the end of any probationary period in accordance with rules and regulations. (h) A pharmacy benefits manager's license may not be sold or transferred to a nonaffiliated or otherwise unrelated party. A pharmacy benefits manager may not contract or subcontract any of its negotiated formulary services to any unlicensed business entity. (i) In addition to all other penalties provided for under this title, the Commissioner shall have the authority to assess a monetary penalty against any person, business entity, or other entity acting as a pharmacy benefits manager without a license of up to $2,000.00 for each transaction in violation of this chapter, unless such person, business entity, or other entity knew or reasonably should have known it was in violation of this chapter, in which case the monetary penalty provided for in this subsection may be increased to an amount of up to $10,000.00 for each and every act in violation. (j) A licensed pharmacy benefits manager shall not market or administer any insurance product not approved in Georgia or that is issued by a nonadmitted insurer or unauthorized multiple employer self-insured health plan. (k) In addition to all other penalties provided for under this title, the Commissioner shall have the authority to place any pharmacy benefits manager on probation for a period of time not to exceed one year for each and every act in violation of this chapter and shall subject such pharmacy benefits manager to a monetary penalty of up to $2,000.00 for each and every act in violation of this chapter, unless the pharmacy benefits manager knew or reasonably should have known he or she was in violation of this chapter, in which case the monetary penalty provided for in this subsection shall be increased to an amount of up to $10,000.00 for each and every act in violation. In the event a pharmacy benefits manager violates any provision of this chapter while on probation, the Commissioner shall have the authority to suspend the pharmacy benefits manager's license. For purposes of this subsection, a violation shall be considered to have occurred each time an act in violation of this chapter is committed.