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304.9-054
Pharmacy benefit manager license application review and license
issuance -- Disciplinary actions concerning license -- Administrative
regulations -- Fees.
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Upon receipt of a completed application, evidence of financial responsibility, and
fee, the commissioner shall make a review of each applicant and shall issue a
license if the applicant is qualified in accordance with this section and KRS 304.9053.
The commissioner may require additional information or submissions from
applicants and may obtain any documents or information reasonably necessary to
verify the information contained in the application.
The commissioner may suspend, revoke, or refuse to issue or renew any license in
accordance with KRS 304.9-440.
The commissioner may make determinations on the length of suspension for an
applicant, not to exceed twenty-four (24) months. However, the licensee may have
the alternative, subject to the approval of the commissioner, to pay in lieu of part or
all of the days of any suspension period a sum of one thousand dollars ($1,000) per
day not to exceed two hundred fifty thousand dollars ($250,000).
If the commissioner's denial or revocation is sustained after a hearing in accordance
with KRS Chapter 13B, an applicant may make a new application not earlier than
one (1) full year after the date on which a denial or revocation was sustained.
The department shall promulgate administrative regulations in accordance with
KRS Chapter 13A to implement and enforce the provisions of this section and KRS
205.647, 304.9-053, 304.9-055, and 304.17A-162. The administrative regulations
shall specify the contents of the application form and any other form or report
required.
The department may impose a fee upon pharmacy benefit managers in addition to a
license fee to cover the costs of implementation and enforcement of this section and
KRS 205.647, 304.9-053, 304.9-055, and 304.17A-162, including fees to cover the
cost of:
(a) Salaries and benefits paid to the personnel of the department engaged in the
enforcement;
(b) Reasonable technology costs related to the enforcement process. Technology
costs shall include the actual cost of software and hardware utilized in the
enforcement process and the cost of training personnel in the proper use of the
software or hardware; and
(c) Reasonable education and training costs incurred by the state to maintain the
proficiency and competence of the enforcing personnel.
Effective: July 15, 2016
History: Created 2016 Ky. Acts ch. 79, sec. 3, effective July 15, 2016.
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