Carrier shall pay for services within 40 days upon receipt of a non-electronic claim or 30 days upon receipt of a electronic claim. If denying a claim, it shall provide notice of the reason for denying the claim and what, if any, additional information is required to adjudicate the claim with the same time frame. If the carrier fails to pay a clean claim within the time limits it is subject to interest charges of 10%.

Link to Existing Law: Title 11 Chapter 22 Subchapter 1 Section 11:22-1.5 Prompt payment of claims

While PBMs are not specifically mentioned, the regulation specifically applies to carrier agents. This would very likely include PBMs.