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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024 SB1945 Introduced 2/9/2023, by Sen. David Koehler SYNOPSIS AS INTRODUCED: |
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Amends the Illinois Insurance Code. Makes a technical change in a Section concerning pharmacy benefit managers.
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| | A BILL FOR |
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| | SB1945 | | LRB103 29279 BMS 55666 b |
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1 | | AN ACT concerning regulation.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Illinois Insurance Code is amended by |
5 | | changing Section 513b2 as follows: |
6 | | (215 ILCS 5/513b2) |
7 | | Sec. 513b2. Licensure requirements. |
8 | | (a) Beginning on July 1, 2020, to conduct business in this |
9 | | State, a pharmacy benefit manager must register with the the |
10 | | Director. To initially register or renew a registration, a |
11 | | pharmacy benefit manager shall submit: |
12 | | (1) A nonrefundable fee not to exceed $500. |
13 | | (2) A copy of the registrant's corporate charter, |
14 | | articles of incorporation, or other charter document. |
15 | | (3) A completed registration form adopted by the |
16 | | Director containing: |
17 | | (A) The name and address of the registrant. |
18 | | (B) The name, address, and official position of |
19 | | each officer and director of the registrant. |
20 | | (b) The registrant shall report any change in information |
21 | | required under this Section to the Director in writing within |
22 | | 60 days after the change occurs. |
23 | | (c) Upon receipt of a completed registration form, the |