N.Y. Insurance Law § 2902: Acting without a registration

§ 2902. Acting without a registration. (a) No person, firm,

association, corporation or other entity may act as a pharmacy benefit

manager on or after June first, two thousand twenty-two and prior to

January first, two thousand twenty-four, without having a valid

registration as a pharmacy benefit manager filed with the superintendent

in accordance with this article and any regulations promulgated

thereunder.

(b) Any person, firm, association, corporation or other entity that

violates this section shall, in addition to any other penalty provided

by law, be liable for restitution and compensatory damages to any health

plan, pharmacy or covered individual, or other person harmed by the

violation and shall also be subject to a penalty not exceeding of the

greater of (1) four thousand dollars for the first violation and ten

thousand dollars for each subsequent violation or (2) the aggregate

economic gross receipts attributable to all violations.