The bill amends sections 26.1-27-03 and 26.1-27.1-02 of the North Dakota Century Code, focusing on the licensing requirements for administrators of life and health insurance and pharmacy benefit managers. It replaces the term "certificate of authority" with "license" throughout the relevant sections, emphasizing that individuals must hold a license issued by the commissioner to act as administrators or pharmacy benefits managers in the state. Violations of these licensing requirements are classified as a class C felony, and the bill outlines the conditions under which the commissioner may deny, revoke, or suspend a license, as well as the associated penalties.

Additionally, the bill stipulates that all applications for a license must include a filing fee of one hundred dollars, and an annual renewal fee of fifty dollars is required to maintain the license. The commissioner is tasked with ensuring that applicants meet certain standards of competence, trustworthiness, and financial responsibility. The amendments aim to streamline the licensing process and enhance regulatory oversight of administrators and pharmacy benefit managers operating in North Dakota.

Statutes affected:
INTRODUCED: 26.1-27-03, 26.1-27.1-02
Enrollment: 26.1-27-03, 26.1-27.1-02
PREFILED: 26.1-27-03, 26.1-27.1-02