Tennessee § 56-7-3107 - Information to be provided regarding maximum allowable cost lists — Updating maximum allowable cost lists.
Full text of Tennessee Tennessee Code Annotated § 56-7-3107 — Information to be provided regarding maximum allowable cost lists — Updating maximum allowable cost lists., with citation guidance and answers to common questions.
§ 56-7-3107. Information to be provided regarding maximum allowable cost lists — Updating maximum allowable cost lists.
A pharmacy benefits manager or covered entity shall make available to each pharmacy with which the pharmacy benefits manager or covered entity has a contract and to each pharmacy included in a network of pharmacies served by a pharmacy services administrative organization with which the pharmacy benefits manager or covered entity has a contract, at the beginning of the term of a contract and upon renewal of a contract: The sources used to determine the maximum allowable costs for the drugs and medical products and devices on each maximum allowable cost list; Every maximum allowable cost for individual drugs used by that pharmacy benefits manager or covered entity for patients served by that contracted pharmacy; and Upon request, every maximum allowable cost list used by that pharmacy benefits manager or covered entity for patients served by that contracted pharmacy. A pharmacy benefits manager or covered entity shall: Update each maximum allowable cost list at least every three (3) business days, as required by § 56-7-3104(b); Make the updated lists available to every pharmacy with which the pharmacy benefits manager or covered entity has a contract and to every pharmacy included in a network of pharmacies served by a pharmacy services administrative organization with which the pharmacy benefits manager or covered entity has a contract, in a readily accessible, secure and usable web-based format or other comparable format or process; and Utilize the updated maximum allowable costs to calculate the payments made to the contracted pharmacies within five (5) business days. Acts 2014, ch. 857, § 2. Compiler's Notes. Acts 2014, ch. 857, § 3 provided that this act, which enacted this section, shall apply to all contracts entered into or renewed on or after January 1, 2015.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 56-7-3107
What does Tennessee Code Annotated § 56-7-3107 cover?
Section 56-7-3107 ("Information to be provided regarding maximum allowable cost lists — Updating maximum allowable cost lists.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 56-7-3107?
A common citation format is "Tennessee Code Annotated § 56-7-3107" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 56-7-3107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.