§ 58-56B-10. (Effective October 1, 2026) Disclosure of ownership requirements.
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§ 58-56B-10. (Effective October 1, 2026) Disclosure of ownership requirements.
(a)To the Department. - Prior to licensure under this Article and within 10 calendar days of any material change to that disclosure, each PSAO shall provide a written disclosure of ownership to the Department.
(b)To Independent Pharmacies, PBMs, and Third-Party Payers. - Prior to entering into a contract with an independent pharmacy, PBM, or third-party payer, a PSAO shall provide the pharmacy, PBM, or third-party payer a written disclosure of ownership or control in order to assist the pharmacy, PBM, or third-party payer in making an informed decision regarding the relationship with the PSAO and the pharmacy, including the PSAO's relationship with any independent pharmacy on behalf of which the PSAO is negotiating.
(c)Content of Required Disclosures. - A disclosure of ownership required under this section shall include the extent of any ownership or control of the PSAO by any parent company, subsidiary, or other organization that does any of the following:
(1)Provides pharmacy services or support.
(2)Provides prescription drugs or drug services.
(3)Manufactures, sells, or distributes prescription drugs, biological products, or medical devices.
(d)Updates to Required Disclosure. - If there is any material change in ownership or control of a PSAO relating to any disclosure required under this section, then a PSAO shall notify the Department and all relevant independent pharmacies, PBMs, and third-party payers of this change within 10 calendar days of the change. (2025-69, s. 2.1.)