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N.J. Stat. Ann. § 17B:27F-10

Violations, penalties

Known as the New Jersey Life and Health Insurance Guaranty Association Act

The act spans §§ 17B:17-1 to 17B:37-9 (1,003 sections).

L.2019, c.274, s.7; amended 2023, c.107, s.12.

7. a. A pharmacy benefits manager that violates any provision of P.L.2015, c.179 (C.17B:27F-1 et seq.) shall be subject to a penalty in an amount not exceeding the greater of:

(1) a penalty of $5,000 for a first violation and a penalty of $10,000 for each subsequent violation; or

(2) the aggregate gross receipts attributable to all violations.

b. In addition to any other penalties permitted by law, the Commissioner of Banking and Insurance may require a pharmacy benefits manager that violates the provisions of P.L.2015, c.179 (C.17B:27F-1 et seq.) to make restitution and pay compensatory damages, in an amount to be determined by the commissioner, to any person injured by the violation.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.