Ala. Admin. Code r. 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.
Notes
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, ยงยง 27-2-17, 27-45A-4, 27-45A-5, Act 2021-341.
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