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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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INSURANCE |
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TITLE 15. HEALTH INSURANCE |
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SUBTITLE 16. PHARMACY BENEFITS MANAGERS |
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PART II. REGISTRATION AND REGULATION OF PHARMACY BENEFITS MANAGERS |
§ 15-1605. Expiration; renewal.
Latest version.
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(a) Expiration. -- A pharmacy benefits manager registration expires on the anniversary date that occurs on the date 2 years following the date the Commissioner issued the registration, unless it is renewed as provided under this section.
(b) Renewal -- In general. -- A pharmacy benefits manager may renew its registration for an additional 2-year term, if the pharmacy benefits manager:
(1) otherwise is entitled to be registered;
(2) files with the Commissioner a renewal application on the form that the Commissioner requires; and
(3) pays to the Commissioner a renewal fee set by the Commissioner.
(c) Renewal -- Deadline for application. -- An application for renewal of a pharmacy benefits manager registration shall be considered made in a timely manner if it is postmarked on or before the date the pharmacy benefits manager's registration expires.
(d) Renewal -- Duty of Commissioner. -- Subject to the provisions of § 15-1607 of this part, the Commissioner shall renew the registration of each pharmacy benefits manager that meets the requirements of this section.