Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-164 - PHARMACY BENEFIT MANAGERS
Section 482-1-164-.01 - Purpose, Scope, Authority, Severability, And Effective Date

Universal Citation: AL Admin Code R 482-1-164-.01

Current through Register Vol. 42, No. 5, February 29, 2024

(1) The purposes of this chapter are to set forth rules and procedural requirements the Commissioner deems necessary to carry out the provisions of Chapter 45A of the Alabama Insurance Code, as amended by Alabama Act No. 2021-341, as follows:

(a) To provide for the licensing of pharmacy benefits managers.

(b) To provide for the renewal of licenses of pharmacy benefits managers.

(c) To provide for the suspension or revocation of license of a pharmacy benefits manager and to set the penalties and fines for violations.

(d) To provide for the transition of licenses for pharmacy benefits managers licensed prior to January 1, 2022.

(e) To provide a fee schedule to allow the regulation and oversight activities of the Department to be self-supporting.

(2) This chapter shall apply to all persons required to be licensed as pharmacy benefits manager.

(3) This chapter is adopted pursuant to Section 27-2-17, Code of Ala. 1975, and subsection (c) of Section 27-45A-4, and subsection (a) of Section 27-45A-5, as amended in Alabama Act No. 2021-341.

(4) If any rule or portion of a rule or its applicability to any person or circumstance is held invalid by a court, the remainder of this chapter or the applicability of the provision to other persons or circumstances shall not be affected.

(5) This chapter shall become effective January 1, 2022, upon its approval by the Commissioner of Insurance and upon its having been on file as a public document in the office of the Secretary of State for ten days.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-45A-4, 27-45A-5, Act 2021-341.

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