(1) This part may be cited as the "Montana Pharmacy Benefit Manager Oversight Act".
(2) This part establishes the standards and criteria for the licensure and regulation of pharmacy benefit managers that provide claims processing services or other prescription drug or device services for health benefit plans and workers' compensation insurance carriers.
(3) The purpose of this part is to:
(a) promote, preserve, and protect the public health, safety, and welfare through regulation and licensure of pharmacy benefit managers;
(b) provide for powers and duties of the commissioner in licensing and regulating pharmacy benefit managers; and
(c) provide penalties for violations of this part.