New York § 2902 Acting without a registration

New York Statutes

§ 2902 — Acting without a registration

New York § 2902

Law ISCInsurance

Art. 29Pharmacy Benefit Managers

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Bluebook

N.Y. Insurance § 2902 (2026).

Text

§ 2902. Acting without a registration.

(a)No person, firm,\nassociation, corporation or other entity may act as a pharmacy benefit\nmanager on or after June first, two thousand twenty-two and prior to\nJanuary first, two thousand twenty-four, without having a valid\nregistration as a pharmacy benefit manager filed with the superintendent\nin accordance with this article and any regulations promulgated\nthereunder.\n (b) Any person, firm, association, corporation or other entity that\nviolates this section shall, in addition to any other penalty provided\nby law, be liable for restitution and compensatory damages to any health\nplan, pharmacy or covered individual, or other person harmed by the\nviolation and shall also be subject to a penalty not exceeding of the\ngreater of (1) four t

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§ 2902. Acting without a registration. (a) No person, firm,\nassociation, corporation or other entity may act as a pharmacy benefit\nmanager on or after June first, two thousand twenty-two and prior to\nJanuary first, two thousand twenty-four, without having a valid\nregistration as a pharmacy benefit manager filed with the superintendent\nin accordance with this article and any regulations promulgated\nthereunder.\n (b) Any person, firm, association, corporation or other entity that\nviolates this section shall, in addition to any other penalty provided\nby law, be liable for restitution and compensatory damages to any health\nplan, pharmacy or covered individual, or other person harmed by the\nviolation and shall also be subject to a penalty not exceeding of the\ngreater of (1) four thousand dollars for the first violation and ten\nthousand dollars for each subsequent violation or (2) the aggregate\neconomic gross receipts attributable to all violations.\n