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. The bill outlines the penalties for non-compliance, including class C felony charges for unauthorized practice, and specifies the conditions under which the commissioner may deny, revoke, or suspend a license.

Additionally, the bill establishes the requirement for a filing fee of one hundred dollars for applications and an annual renewal fee of fifty dollars to maintain the license. It also details the process for the commissioner to impose fines or revoke licenses based on the administrator's competence, trustworthiness, and financial responsibility, as well as previous licensing history. Overall, the amendments aim to streamline the licensing process and ensure that only qualified individuals operate as administrators and pharmacy benefits managers in North Dakota.

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