(1) To obtain or renew a license as a pharmacy benefit manager, a person shall: (a) submit an application to the commissioner on forms and in a manner established by the commissioner by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and (b) pay a licensure fee established by the department in accordance with Section 31A-3-103. (2) (a) The commissioner may require an applicant to submit information or documentation regarding the management and ownership of the pharmacy benefit manager in the application described in Subsection (1)(a). (b) Any material change in the information submitted in an application described in Subsection (1)(a) shall be reported to the department within 30 days after the day on which the information changes. (3) The term of a license issued under this section is one year.
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