26.1-27.1-02. Licensing - Terms and fee - Application

26.1-27.1-02. Licensing - Terms and fee - Application 1. A person may not establish or operate as a pharmacy benefits manager in this state without first obtaining a license from the commissioner under this section. A person violating this subsection is guilty of a class C felony. 2. A person applying for a pharmacy benefits manager license shall submit an application to the commissioner. The commissioner shall make an application form available on its website which includes a request for the following information: a. The identity, address, electronic mail address, and telephone number of the applicant; b. The name, business address, electronic mail address, and telephone number of the contact person for the applicant; c. If applicable, the federal employer identification number for the applicant; and d. Any other information the commissioner considers necessary and appropriate to establish the qualifications to receive a license as a pharmacy benefits manager to complete the licensure process. 3. The term of licensure is one year from April thirtieth through March thirty-first. 4. The pharmacy benefits manager shall pay an annual renewal fee no later than April thirtieth. 5. The applicant shall submit the fee with the initial application or renewal application for licensure. The initial application fee and renewal fee are nonrefundable. 6. Each application for a license, and subsequent renewal for a license, must be accompanied by evidence of financial responsibility in an amount of one million dollars. 7. Upon receipt of a completed application, evidence of financial responsibility, and fee, the commissioner shall review each application and issue a license if the applicant is qualified in accordance with the provisions of this section and the rules promulgated by the commissioner under this section. The commissioner may require additional information or submissions from an applicant and may obtain any documents or information reasonably necessary to verify the information contained in the application. 8. The license may be in paper or electronic form. The license is nontransferable, and must prominently list the expiration date.