The commissioner can deny, suspend, or revoke a pharmacy services administrative organization’s license, or fine it, for certain listed grounds.
§1660.4. Grounds for denial, suspension, or revocation of license A. The commissioner shall suspend or revoke the license of a pharmacy services administrative organization, deny the application for a license, or, in lieu thereof, impose a fine for each separate violation not to exceed five hundred dollars per violation if the pharmacy services administrative organization has failed to pay any judgment rendered against it in this state within sixty days after the judgment has become final. B. The commissioner may suspend or revoke the license of a pharmacy services administrative organization, deny the application for a license, or, in lieu thereof, impose a fine not to exceed five hundred dollars per violation if the commissioner finds that any of the following apply to a pharmacy services administrative organization: (1) Has violated any lawful rule or order of the commissioner or any provision of the insurance laws of this state that is within the sole authority of the pharmacy services administrative organization. (2) Has refused to be examined or to produce its accounts, records, and files for examination or if any of its officers have refused to give information with respect to its affairs or has refused to perform any other legal obligations as to such examination, when required by the commissioner. (3) Is affiliated with or under the same general management or interlocking directorate or ownership as another pharmacy services administrative organization which unlawfully transacts business in this state without having a license. (4) At any time fails to meet any qualification for which issuance of the license could have been refused had such failure then existed and been known to the commissioner. (5) Has been convicted of, or has entered a plea of guilty or nolo contendere to, a felony without regard to whether adjudication was withheld. (6) Is under suspension or revocation in another state. (7) Has provided incorrect, misleading, incomplete, or materially false information or omitted material information in the license application. C. The commissioner may, in his discretion and without advance notice or hearing, immediately suspend the license of any pharmacy services administrative organization if the commissioner finds that either of the following circumstances exists: (1) A proceeding for receivership, conservatorship, rehabilitation, or other delinquency proceeding regarding the pharmacy services administrative organization has been commenced in any state. (2) The financial condition or business practices of the pharmacy services administrative organization otherwise pose an imminent threat to the public health, safety, or welfare of the residents of this state. Acts 2021, No. 192, §1.