Sec. 38a-479bbb. Registration of pharmacy benefits managers required. Application for registration. Fee. Surety bond. Exemption from registration.
Sec. 38a-479bbb. Registration of pharmacy benefits managers required. Application for registration. Fee. Surety bond. Exemption from registration. (a) Except as provided in subsection (d) of this section, no person shall act as a pharmacy
benefits manager in this state without first obtaining a certificate of registration from
the commissioner.
(b) Any person seeking a certificate of registration shall apply to the commissioner,
in writing, on a form provided by the commissioner. The application form shall state
(1) the name, address, official position and professional qualifications of each individual
responsible for the conduct of the affairs of the pharmacy benefits manager, including
all members of the board of directors, board of trustees, executive committee, other
governing board or committee, the principal officers in the case of a corporation, the
partners or members in the case of a partnership or association and any other person
who exercises control or influence over the affairs of the pharmacy benefits manager,
and (2) the name and address of the applicant's agent for service of process in this state.
(c) Each application for a certificate of registration shall be accompanied by (1) a
nonrefundable fee of fifty dollars, and (2) evidence of a surety bond in an amount equivalent to ten per cent of one month of claims in this state over a twelve-month average,
except that such bond shall not be less than twenty-five thousand dollars or more than
one million dollars.
(d) Any pharmacy benefits manager operating as a line of business or affiliate of a
health insurer, health care center, hospital service corporation, medical service corporation or fraternal benefit society licensed in this state or any affiliate of such health insurer,
health care center, hospital service corporation, medical service corporation or fraternal
benefit society shall not be required to obtain a certificate of registration. Such health
insurer, health care center, hospital service corporation, medical service corporation or
fraternal benefit society shall notify the commissioner annually, in writing, on a form
provided by the commissioner, that it is affiliated with or operating a business as a
pharmacy benefits manager.
(e) Any person acting as a pharmacy benefits manager on January 1, 2008, and
required to obtain a certificate of registration under subsection (a) of this section, shall
obtain a certificate of registration from the commissioner not later than April 1, 2008,
in order to continue to do business in this state.
(P.A. 07-200, S. 2.)
History: P.A. 07-200 effective January 1, 2008.