Any person seeking a certificate of registration shall apply to the commissioner, in writing, on a form provided by the commissioner. The application includes several pieces of information that the PBM must disclose. Each application for a certificate of registration shall be accompanied by (1) a nonrefundable fee of fifty dollars, and (2) evidence of a surety bond in an amount equivalent to ten per cent of one month of claims in this state over a twelve-month average, except that such bond shall not be less than twenty-five thousand dollars or more than one million dollars. PBMs must renew annually.

Link to Existing Law: Sec. 38a-479bbb

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