(a) (1) A person or organization shall not establish or operate as a pharmacy services administrative organization in Arkansas for health benefit plans without obtaining a license from the Insurance Commissioner under this subchapter.(2) The commissioner shall prescribe the application for a license to operate in Arkansas as a pharmacy services administrative organization and may charge application fees and renewal fees as established by rule.
(1) A person or organization shall not establish or operate as a pharmacy services administrative organization in Arkansas for health benefit plans without obtaining a license from the Insurance Commissioner under this subchapter.
(2) The commissioner shall prescribe the application for a license to operate in Arkansas as a pharmacy services administrative organization and may charge application fees and renewal fees as established by rule.
(b) The commissioner shall issue rules establishing the licensing, fees, application, financial standards, penalties, compliance and enforcement requirements, and reporting requirements of a pharmacy services administrative organization under this subchapter.
(c) This subchapter does not require a third-party payer to enter a contract with a pharmacy services administrative organization.