760 IAC 5-2-6 Renewal of license

Sec. 6. (a) A license obtained under this rule is valid for one (1) year. (b) A pharmacy benefit manager must complete a renewal application on a form prescribed by the commissioner. The pharmacy benefit manager must identify any change in the information provided with the pharmacy benefit manager's initial application for licensure. (c) A renewal application must be accompanied by the renewal fee set forth in section 3(b) of this rule. (d) A renewal application, with supporting documentation, as outlined in section 2 of this rule, must be received by the commissioner on or before thirty (30) days prior to the anniversary of the effective date of the pharmacy benefit manager's most recent license. (e) A pharmacy benefit manager license remains in effect unless revoked or suspended, as long as the renewal fee set forth in subsection (c) is paid, the renewal application is received in accordance with subsection (d), and the annual reporting requirements set forth in 760 IAC 5-5-1 are met by the due date. (f) If a renewal application is denied under this section, the applicant or licensee may appeal the denial under the terms of the provisions of IC 4-21.5. A hearing of the appeal must be conducted within forty-five (45) days from the date the petition for hearing is filed with the commissioner.