§ 22:1660.2 — Licensing requirements

Louisiana § 22:1660.2

• Jurisdiction: Louisiana
• Title 22: Insurance

Text

§1660.2. Licensing requirements
A. No person shall act as, or offer to act as, or hold himself out to be a pharmacy
services administrative organization in this state without a valid license as a pharmacy
services administrative organization issued by the commissioner of insurance. The
commissioner may impose a fine of five hundred dollars per violation against any person
who acts as a pharmacy services administrative organization without a valid license, and each
day shall be considered a separate violation.
B. Applicants subject to this Section shall pay a licensing fee in an amount set forth
in R.S. 22:821 and shall make an application to the commissioner upon a form to be
furnished by the commissioner. The application shall include or be accompanied by the
following information and documents:
(1) All basic organizational documents of the pharmacy services administrative
organization, including any articles of incorporation, articles of association, partnership
agreements, trade name certificates, trust agreements, shareholders' agreements, and other
applicable documents and all amendments to such documents.
(2) The bylaws, rules, regulations, or similar documents regulating the internal
affairs of the pharmacy services administrative organization.
(3) The names, addresses, official positions, and professional qualifications of the
individuals who are responsible for the conduct of affairs of the pharmacy services
administrative organization, including all members of the board of directors, board of
trustees, executive committee or other governing board or committee, the principal officers
in the case of a corporation or the partners or members in the case of a partnership or
association, shareholders holding directly or indirectly ten percent or more of the voting
securities of the pharmacy services administrative organization, and any other person who
exercises control or influence over the affairs of the pharmacy services administrative
organization.
(4) An affidavit signed by the president or other authorized officer stating that the
pharmacy services administrative organization has its latest financial statement available for
inspection by the commissioner.
(5) Summary information concerning its business organization and employees
sufficient to fulfill the requirements of this Part.
(6) Such other pertinent information as may be required by the commissioner.
C. Upon request by the commissioner, the applicant shall make available for
inspection by the commissioner copies of contracts with pharmacists, pharmacies, pharmacy
benefit managers, or other persons utilizing the services of the pharmacy services
administrative organization in order to determine qualification for licensure.
D. The commissioner may refuse to issue a license if the commissioner determines
that the pharmacy services administrative organization, or any individual responsible for the
conduct of affairs of the pharmacy services administrative organization as defined in this
Part, is not competent, trustworthy, financially responsible or of good personal and business
reputation, or has had an insurance or a pharmacy services administrative organization
license denied or revoked for cause by any state.
E. A license issued pursuant to this Section shall remain valid, unless surrendered,
suspended, or revoked by the commissioner, as long as the pharmacy services administrative
organization continues in business in this state and remains in compliance with this Part.
F. A pharmacy services administrative organization is not required to hold a license
as a pharmacy services administrative organization in this state if the pharmacy services
administrative organization meets both of the following conditions:
(1) The pharmacy services administrative organization has its principal place of
business in another state.
(2) The pharmacy services administrative organization is not soliciting business as
a pharmacy services administrative organization in this state.
G. On an annual basis, a licensed pharmacy services administrative organization
shall notify the commissioner if there is any material change in fact or circumstance affecting
its qualification for a license in this state. The notice shall include any documentation as the
commissioner may require upon a form to be furnished by the commissioner.

Legislative History

Acts 2021, No. 192, §1.