VIRGINIA SUMMARY OF EXISTING LAW

Effective October 1, 2020, unless otherwise covered by a license as a carrier, no person shall provide PBM services or otherwise act as a PBM in the state without first obtaining a license. A nonrefundable application processing fee will be required. Each PBM is required to renew its license annually and must pay a renewal fee.

The Commission has discretion to issue or renew a license or may revoke or suspend a license if it finds that the applicant or license holder has not complied with the provisions of this article or Commission regulations.

Link to Existing Law: VA Code Ann. § 38.2-3466