Oklahoma § 59-358 - Pharmacy benefits management licensure – Procedures –

§ 59-358. Pharmacy benefits management licensure – Procedures –

Penalties for noncompliance.

A. In order to provide pharmacy benefits management or any of

the services included under the definition of pharmacy benefits

management in this state, a pharmacy benefits manager or any entity

acting as one in a contractual or employment relationship for a

covered entity shall first obtain a license from the Insurance

Department, and the Department may charge a fee for such licensure.

B. The Department shall establish, by regulation, licensure

procedures, required disclosures for pharmacy benefits managers

(PBMs) and other rules as may be necessary for carrying out and

enforcing the provisions of this title. The licensure procedures

shall, at a minimum, include the completion of an application form

that shall include the name and address of an agent for service of

process, the payment of a requisite fee, and evidence of the

procurement of a surety bond.

C. The Department or the Office of the Attorney General may

subpoena witnesses and information. Its compliance officers may

take and copy records for investigative use and prosecutions.

Nothing in this subsection shall limit the Office of the Attorney

General from using its investigative demand authority to investigate

and prosecute violations of the law.

D. The Department may suspend, revoke or refuse to issue or

renew a license for noncompliance with any of the provisions hereby

established or with the rules promulgated by the Department; for

conduct likely to mislead, deceive or defraud the public or the

Oklahoma Statutes - Title 59. Professions and Occupations

Department; for unfair or deceptive business practices or for

nonpayment of an application or renewal fee or fine. The Department

may also levy administrative fines for each count of which a PBM has

been convicted in a Department hearing.

E. 1. The Office of the Attorney General, after notice and

opportunity for hearing, may instruct the Insurance Commissioner

that the PBM’s license be censured, suspended, or revoked for

conduct likely to mislead, deceive, or defraud the public or the

State of Oklahoma; or for unfair or deceptive business practices, or

for any violation of the Patient’s Right to Pharmacy Choice Act, the

Pharmacy Audit Integrity Act, Sections 357 through 360 of this

title, or Section 9 of this act. The Office of the Attorney General

may also levy administrative fines for each count of which a PBM has

been convicted following a hearing before the Attorney General. If

the Attorney General makes such instruction, the Commissioner shall

enforce the instructed action within thirty (30) calendar days.

2. In addition to or in lieu of any censure, suspension, or

revocation of a license by the Commissioner, the Attorney General

may levy a civil or administrative fine not less than One Hundred

Dollars ($100.00) and not greater than Ten Thousand Dollars

($10,000.00) for each violation of this subsection and/or assess any

other penalty or remedy authorized by this section. For purposes of

this section, each day a PBM fails to comply with an investigation

or inquiry may be considered a separate violation.

F. The Attorney General may promulgate rules to implement the

provisions of Sections 357 through 360 of this title and Section 9

of this act.

Added by Laws 2014, c. 263, § 2, eff. July 1, 2014. Amended by Laws

2021, c. 409, § 3, emerg. eff. May 4, 2021; Laws 2024, c. 332, § 5,

emerg. eff. May 22, 2024; Laws 2025, c. 300, § 7, emerg. eff. May

22, 2025.