Beginning on July 1, 2020, to conduct business in this State, a PBM must register with the Director. A registration certificate is valid for 2 years after its date of issue. The initial registration fee must not exceed $500 and a registration renewal fee must not exceed $500, both of which shall be nonrefundable.

Link to Existing Law: IL ST CH 215 § 5/513b2

This is a fairly sufficient statute for licensure, which, in tandem with other existing PBM laws, provides a framework for regulatory oversight of PBMs.