A. This Part may be cited as the “Louisiana Pharmacy Services Administrative Organization Licensing Act”.

            B. As used in this Part, the following definitions apply:

            (1) “Pharmacy services administrative organization” means an entity that provides a contracted pharmacy with administrative, contracting, or payment services relating to prescription drug benefits.

            (2) “Pharmacy services administrative organization contract” means a contractual agreement between a pharmacy services administrative organization and a pharmacy under which a pharmacy services administrative organization agrees to negotiate with pharmacy benefit managers or third-party payers on behalf of one or more pharmacies.

            Acts 2021, No. 192, §1.