17:48F-2 - Prepaid prescription service organization, certificate of authority - New Jersey Statutes

17:48F-2  Prepaid prescription service organization, certificate of authority.2. a.  Beginning one year after the date of enactment of this act, no person, corporation, partnership, or other entity shall operate a prepaid prescription service organization in this State except in accordance with the provisions of this act.  No person shall sell, offer to sell or solicit offers to purchase or receive advance or periodic consideration for  prescription services without obtaining a certificate of authority pursuant to this act.

b.A prepaid prescription service organization operating in this State on the effective date of this act shall submit an application for a certificate of authority to the commissioner within nine months of the date of enactment of this act.  The organization may continue to operate during the pendency of its application, but in no case longer than 18 months after the date of enactment of this act.  In the event the application is denied, the applicant shall then be treated as a prepaid prescription service organization whose certificate of authority has been revoked pursuant to section 18 of this act.  Nothing in this subsection shall operate to impair any contract which was entered into before the effective date of this act.

c.Any person offering prescription services in a manner substantially provided for in this act shall be presumed to be subject to the provisions of the act unless the person is otherwise regulated under State  law.

L.1997,c.380,s.2.