§1870.1. Enforcement; Pharmacy Benefit Manager Enforcement Fund; creation
A. The commissioner shall enforce the provisions of this Section with all of the
powers and authority vested in him pursuant to this Title.
B. Any act or combination of acts prohibited by this Section shall be considered an
unfair method of competition and unfair practice or act in accordance with the Unfair Trade
Practices and Consumer Protection Law, R.S. 51:1401 et seq.
C.(1) The attorney general shall have independent authority to investigate, enforce,
and contract with outside counsel for purposes of enforcing violations of this Section. Upon
a finding that a pharmacy benefit manager has violated any provision of this Section, the
attorney general may seek restitution to the state and treble damages under civil action, and
shall be entitled to an award of attorney fees.
(2)(a) The Pharmacy Benefit Manager Enforcement Fund, hereafter referred to as
the "fund", is created in the state treasury as a special fund. Any monies collected pursuant
to a violation of this Section or violation of any provision of law regulating the practice of
pharmacy benefit managers shall be deposited into the fund. The monies in the fund shall be
invested by the state treasurer in the same manner as monies in the state general fund and
interest earned on the investment of monies in the fund shall be credited to the fund.
(b) After compliance with the requirements of Article VII, Section 9(B) of the
Constitution of Louisiana relative to the Bond Security and Redemption Fund, and prior to
monies being placed in the state general fund, all monies received by the state pursuant to
a civil award granted or settlement under the provisions of this Section shall be deposited
into the fund and used for the following purposes:
(i) Subject to legislative appropriation, monies in the fund shall be used first to fund
the commissioner of insurance and attorney general's expenditures necessary to carry out the
provisions of this Section.
(ii) At the conclusion of each fiscal year, any unexpended monies shall be returned
to the policyholders in accordance with a program designed by the attorney general and
commissioner.
Acts 2025, No. 474, §1, eff. June 20, 2025.