Ala. Admin. Code r. 482-1-164-.01

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-164-.01 - Purpose, Scope, Authority, Severability, And Effective Date

(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.

Ala. Admin. Code r. 482-1-164-.01

Adopted by Alabama Administrative Monthly Volume XXXVIII, Issue No. 02, November 29, 2019, eff. 1/1/2020. Filed with LSA November 7, 2019. Rule is not subject to the Alabama Administrative Procedure Act.

Amended by Alabama Administrative Monthly Volume XL, Issue No. 01, October 29, 2021, eff. 1/1/2022. Published with LSA October 29, 2021. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

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