(a) A pharmacy benefits manager registration expires on May 1 after its effective date unless it is renewed as provided under this section.
(b) A pharmacy benefits manager may renew its registration for an additional 1-year term if the pharmacy benefits manager otherwise is entitled to be registered and does all of the following:
(1) Files with the Commissioner a registration renewal application on the form that the Commissioner requires.
(2) Pays to the Commissioner a $1,000 nonrefundable renewal fee.
(c) An application for renewal of a pharmacy benefits manager registration is to be considered made in a timely manner if it is postmarked on or before the date the pharmacy benefits manager's registration expires.
(d) The Commissioner may require additional information or submissions from a pharmacy benefits manager that may be reasonably necessary to verify the information contained in the registration renewal application.
(e) Subject to §§ 3355A of this title, the Commissioner shall renew the registration of each pharmacy benefits manager that meets the requirements of this section.