(a) In addition to the requirements under § 15-10B-19 of this subtitle, the Commissioner shall conduct an examination of any pharmacy benefit manager registered as a private review agent to determine whether the pharmacy benefit manager is acting in compliance with this subtitle.

(b) The examination shall be conducted:

(1) in accordance with § 2-207 of this article; and

(2) at least once every 3 years.

(c) The expense of the examination shall be paid in accordance with § 2-208 of this article.

(d) The reports of the examination shall be issued in accordance with § 2-209 of this article.

(e) Within 30 days after the completion of a final report of an examination under this section, the Commissioner shall submit a copy of the report to the Senate Finance Committee and the House Health and Government Operations Committee in accordance with § 2-1257 of the State Government Article.