633.14 Issuance of license.

405 words·~2 min read·/wi/chapter-633/633-14-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The commissioner shall issue a license to act as an administrator to an individual who does all of the following:

(a)Subject to s. 601.31

(2m), pays the fee under s. 601.31

(w).

(b)Supplies a bond meeting the specifications established under sub.

(3).

(c)Shows to the satisfaction of the commissioner all of the following:

1. That the person intends in good faith to act as an administrator in compliance with applicable laws of this state and rules and orders of the commissioner.

2. That the person is competent and trustworthy.

3. That the person is licensed to act as an agent.

4. If a nonresident, that the person has executed in a form acceptable to the commissioner an agreement to be subject to the jurisdiction of the commissioner and the courts of this state and rules and orders of the commissioner, with service of process as provided under ss. 601.72 and 601.73 .

(d)Provides his or her social security number, unless the individual does not have a social security number.

(e)If an individual who does not have a social security number, provides on a form prescribed by the department of children and families a statement made or subscribed under oath or affirmation that he or she does not have a social security number.

(2)The commissioner shall issue a license to act as an administrator or pharmacy benefit manager to a corporation, limited liability company or partnership that does all of the following:

(a)Pays the fee under s. 601.31

(w).

(b)Supplies a bond meeting the specifications established under sub.

(3).

(c)Shows to the satisfaction of the commissioner all of the following:

1. That the corporation, limited liability company or partnership intends in good faith to act as an administrator or pharmacy benefit manager through individuals designated under subd. 3. in compliance with applicable laws of this state and rules and orders of the commissioner.

2. That each officer, director, member, partner or other individual having comparable responsibilities in the corporation, limited liability company or partnership is competent and trustworthy.

3. That for each employee benefit plan or prescription drug benefit to be administered, the corporation, limited liability company or partnership has designated or will designate an individual in the corporation, limited liability company or partnership to directly administer the employee benefit plan or prescription drug benefit.