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This entry was published on 2022-03-04
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Acting without a registration
Insurance (ISC) CHAPTER 28, ARTICLE 29
§ 2902. Acting without a registration. (a) No person, firm,
association, corporation or other entity may act as a pharmacy benefit
manager on or after June first, two thousand twenty-two and prior to
January first, two thousand twenty-four, without having a valid
registration as a pharmacy benefit manager filed with the superintendent
in accordance with this article and any regulations promulgated

(b) Any person, firm, association, corporation or other entity that
violates this section shall, in addition to any other penalty provided
by law, be liable for restitution and compensatory damages to any health
plan, pharmacy or covered individual, or other person harmed by the
violation and shall also be subject to a penalty not exceeding of the
greater of (1) four thousand dollars for the first violation and ten
thousand dollars for each subsequent violation or (2) the aggregate
economic gross receipts attributable to all violations.