Illinois General Assembly - Full Text of SB1945
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Full Text of SB1945  103rd General Assembly




State of Illinois
2023 and 2024


Introduced 2/9/2023, by Sen. David Koehler


215 ILCS 5/513b2

    Amends the Illinois Insurance Code. Makes a technical change in a Section concerning pharmacy benefit managers.

LRB103 29279 BMS 55666 b





SB1945LRB103 29279 BMS 55666 b

1    AN ACT concerning regulation.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Insurance Code is amended by
5changing Section 513b2 as follows:
6    (215 ILCS 5/513b2)
7    Sec. 513b2. Licensure requirements.
8    (a) Beginning on July 1, 2020, to conduct business in this
9State, a pharmacy benefit manager must register with the the
10Director. To initially register or renew a registration, a
11pharmacy benefit manager shall submit:
12        (1) A nonrefundable fee not to exceed $500.
13        (2) A copy of the registrant's corporate charter,
14    articles of incorporation, or other charter document.
15        (3) A completed registration form adopted by the
16    Director containing:
17            (A) The name and address of the registrant.
18            (B) The name, address, and official position of
19        each officer and director of the registrant.
20    (b) The registrant shall report any change in information
21required under this Section to the Director in writing within
2260 days after the change occurs.
23    (c) Upon receipt of a completed registration form, the



SB1945- 2 -LRB103 29279 BMS 55666 b

1required documents, and the registration fee, the Director
2shall issue a registration certificate. The certificate may be
3in paper or electronic form, and shall clearly indicate the
4expiration date of the registration. Registration certificates
5are nontransferable.
6    (d) A registration certificate is valid for 2 years after
7its date of issue. The Director shall adopt by rule an initial
8registration fee not to exceed $500 and a registration renewal
9fee not to exceed $500, both of which shall be nonrefundable.
10Total fees may not exceed the cost of administering this
12    (e) The Department shall adopt any rules necessary to
13implement this Section.
14(Source: P.A. 101-452, eff. 1-1-20.)