Alaska § 21.27.903 - Qualifications.

§ 21.27.903. Qualifications.

 (a) An application for a pharmacy benefits manager license must be in a form prescribed by the director.

 (b) The director may only issue or renew a license if the director is satisfied that the applicant is a trustworthy person. The director may not issue a license to an applicant who has committed an act that is a cause for denial, nonrenewal, suspension, or revocation of a registration or license in this state or another jurisdiction.

 (c) An application must disclose        (1) information concerning the identity, professional history, professional experience, and background history of all owners, officers, directors, or partners;

 (2) any administrative action taken against the owners, officers, directors, or partners by a governmental agency of this or another jurisdiction and any sanction imposed by a financial industry regulatory authority or arbitration proceeding;

 (3) any criminal prosecution in this state or another state or jurisdiction of an owner, officer, director, or partner; the application must include the criminal complaint, calendaring order, and other relevant legal documents.

 (d) An application must designate a compliance officer for the pharmacy benefits manager and include the name, business address, telephone number, electronic mailing address, professional experience, and information concerning the background history of the officer.

 (e) An application must include        (1) the required application fee;

 (2) the organizational documents of the pharmacy benefits manager, including articles of incorporation, articles of association, partnership agreement, trade name certificate, trust agreement, shareholder agreement, and other applicable documents, as well as the endorsements to the required documents;

 (3) the name and address of the pharmacy benefits manager's agent for service of process in the state;

 (4) the bylaws, rules, regulations, or similar documents regulating the internal affairs of the pharmacy benefits manager;

 (5) the name, electronic mailing address, physical address, official position, and professional qualifications of each person who is responsible for the conduct of affairs of the pharmacy benefits manager, including the board of directors, board of trustees, executive committee, or other governing board or committee; the principal officers in the case of a corporation, or the partners or members in the case of a partnership, limited liability company, limited liability partnership, or association; shareholders holding directly or indirectly 10 percent or more of the voting securities of the pharmacy benefits manager; and any other person who exercises control or influence over the affairs of the pharmacy benefits manager;

 (6) certified financial statements for the preceding two years, or for each year and partial year that the applicant has been in business if less than two years, prepared by an independent certified public accountant establishing that the applicant is solvent, that the applicant's system of accounting, internal control, and procedure is operating effectively to provide reasonable assurance that money is promptly accounted for and paid to the person entitled to the money, and any other information that the director may require to review the current financial condition of the applicant.