The Kentucky Pharmacy Benefit Manager license

806 KAR 9:360 Section 2(1) is the application and nothing in it is a course, an hour count or an examination. What it asks for instead is a cash surety bond of one million dollars issued by a corporate surety authorized in Kentucky and open to lawful levy of execution by anybody the licensee is found liable to, and the name of at least one responsible individual answerable for the manager's compliance with KRS Chapter 304 and Title 806. Section 2 also carries the money, and there is more of it than the license fee suggests: on top of the $1,000 license fee at 806 KAR 4:010 section 1(8)(a), Section 2 requires a registration fee of $10,000 within thirty days of initial licensure and annually thereafter on or before March 31, which a manager serving only a workers' compensation plan does not pay. A renewal filed between April 1 and May 30 carries a $500 penalty under KRS 304.9-053(4). Section 3 obliges the licensee to notify the commissioner within thirty days of any change among its members, directors, officers, clients or delegated contractors. The bond is security rather than money leaving the applicant's hands, so no cost page totals it.

Read at apps.legislature.ky.gov on 2026-09-05