What happens if a PBM does not have a PBM license by January 1, 2021?

The PBM will not be authorized to operate in the state of South Carolina until proper licensure is obtained. An unlicensed PBM is subject to a fine of up to $10,000 per violation pursuant to Section 38-2-30 of the S.C. Code of Laws of 1976, as amended.   

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1. What is a pharmacy benefits manager?
2. What does the new South Carolina law do?
3. Will the Department promulgate new regulations?
4. My business is currently licensed as a Third Party Administrator (TPA). What do I need to do to become licensed as a PBM?
5. What happens if a PBM does not have a PBM license by January 1, 2021?
6. Is completion of the PBM Application Requirements Checklist required for PBM licensure?
7. How do I apply for a PBM license?
8. What happens when all requirements for PBM licensure are met?
9. Does a PBM need a TPA license in addition to a PBM license?
10. How can a PBM submit a name/address change?
11. How can I file a complaint with the Office of PBM Oversight?