Bill Text: IL SB3059 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Insurance Code. Makes a technical change in a Section concerning licensure requirements for pharmacy benefit managers.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3059 Detail]

Download: Illinois-2019-SB3059-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB3059 Introduced 2/5/2020, by Sen. Andy Manar SYNOPSIS AS INTRODUCED:
215 ILCS 5/513b2
Amends the Illinois Insurance Code. Makes a technical change in a Section concerning licensure requirements for pharmacy benefit managers.
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A BILL FOR
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AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Insurance Code is amended by
changing Section 513b2 as follows:
(215 ILCS 5/513b2)
Sec. 513b2. Licensure requirements.
(a) Beginning on July 1, 2020, to conduct business in this
State, a pharmacy benefit manager must register with the the
Director. To initially register or renew a registration, a
pharmacy benefit manager shall submit:
(1) A nonrefundable fee not to exceed $500.
(2) A copy of the registrant's corporate charter,
articles of incorporation, or other charter document.
(3) A completed registration form adopted by the
Director containing:
(A) The name and address of the registrant.
(B) The name, address, and official position of
each officer and director of the registrant.
(b) The registrant shall report any change in information
required under this Section to the Director in writing within
60 days after the change occurs.
(c) Upon receipt of a completed registration form, the

SB3059 - 2 - LRB101 20361 BMS 69907 b
required documents, and the registration fee, the Director
shall issue a registration certificate. The certificate may be
in paper or electronic form, and shall clearly indicate the
expiration date of the registration. Registration certificates
are nontransferable.
(d) A registration certificate is valid for 2 years after
its date of issue. The Director shall adopt by rule an initial
registration fee not to exceed $500 and a registration renewal
fee not to exceed $500, both of which shall be nonrefundable.
Total fees may not exceed the cost of administering this
Section.
(e) The Department shall adopt any rules necessary to
implement this Section.
(Source: P.A. 101-452, eff. 1-1-20.)