A PBM must register with the Commissioner as a PBM before providing PBM services in the State to purchasers. A PBM may renew its registration for an additional 2 years.

Link to Existing Law: MD INSURANCE § 15-1604

This is a fairly sufficient statute for licensure, which, in tandem with other existing PBM laws, provides a framework for regulatory oversight of PBMs. 2021 Amendment redefined “purchaser” to escape ERISA preemption.