(a)(1) A person or organization shall not establish or operate as a pharmacy benefits manager in Arkansas for health benefit plans without obtaining a license from the Insurance Commissioner under this subchapter.(2) The commissioner shall prescribe the application for a license to operate in Arkansas as a pharmacy benefits manager and may charge application fees and renewal fees as established by rule.(b) The commissioner shall issue rules establishing the licensing, fees, application, financial standards, penalties, compliance and enforcement requirements, and reporting requirements of pharmacy benefits managers under this subchapter.Amended by Act 2023, No. 302,§ 2, eff. 8/1/2023.Added by Act 2018EX2, No. 1,§ 1, eff. 3/15/2018.Added by Act 2018EX2, No. 3,§ 1, eff. 3/19/2018.
Arkansas Legal Code