§ 2910 — Revoked registrations or licenses

§ 2910. Revoked registrations or licenses. (a)(1) No person, firm,\nassociation, corporation or other entity subject to the provisions of\nthis article whose registration or license under this article has been\nrevoked, or whose registration or license to engage in the business of\npharmacy benefit management in any capacity has been revoked by any\nother state or territory of the United States shall become employed or\nappointed by a pharmacy benefit manager as an officer, director,\nmanager, controlling person or for other services, without the prior\nwritten approval of the superintendent, unless such services are for\nmaintenance or are clerical or ministerial in nature.\n (2) No person, firm, association, corporation or other entity subject\nto the provisions of this article shall knowingly employ or appoint any\nperson or entity whose registration or license issued under this article\nhas been revoked, or whose registration or license to engage in the\nbusiness of pharmacy benefit management in any capacity has been revoked\nby any other state or territory of the United States, as an officer,\ndirector, manager, controlling person or for other services, without the\nprior written approval of the superintendent, unless such services are\nfor maintenance or are clerical or ministerial in nature.\n (3) No corporation or partnership subject to the provisions of this\narticle shall knowingly permit any person whose registration or license\nissued under this article has been revoked, or whose registration or\nlicense to engage in the business of pharmacy benefit management in any\ncapacity has been revoked by any other state, or territory of the United\nStates, to be a shareholder or have an interest in such corporation or\npartnership, nor shall any such person become a shareholder or partner\nin such corporation or partnership, without the prior written approval\nof the superintendent.\n (b) The superintendent may approve the employment, appointment or\nparticipation of any such person whose registration or license has been\nrevoked:\n (1) if the superintendent determines that the duties and\nresponsibilities of such person are subject to appropriate supervision\nand that such duties and responsibilities will not have an adverse\neffect upon the public, other registrants or licensees, or the\nregistrant or licensee proposing employment or appointment of such\nperson; or\n (2) if such person has filed an application for reregistration or\nrelicensing pursuant to this article and the application for\nreregistration or relicensing has not been approved or denied within one\nhundred twenty days following the filing thereof, unless the\nsuperintendent determines within the said time that employment or\nappointment of such person by a registrant or licensee in the conduct of\na pharmacy benefit management business would not be in the public\ninterest.\n (c) The provisions of this section shall not apply to the ownership of\nshares of any corporation registered or licensed pursuant to this\narticle if the shares of such corporation are publicly held and traded\nin the over-the-counter market or upon any national or regional\nsecurities exchange.\n