Greenspoon Marder Cannabis Law Group Blog

SEPTEMBER 25, 2019

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

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Cannabis Law Report

JULY 20, 2019

The banks actions will mean somebody at the FDIC will have to make some serious decisions that could lead to a number of ramifications for the cannabis sector not only in CA but also nationwide. A small California bank’s merger application could force the FDIC to take a firmer stand on marijuana banking.

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Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. And that puts them and the Americans they do business with at risk. .

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Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. This federal distinction, however, has not prevented more than 40 states from legalizing marijuana for medical and/or recreational adult use.

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Cannabis Law Report

MARCH 5, 2020

Maine is planning to have its first recreational marijuana shops open in June, three months later than expected. State budget forecasters are banking on a robust kickoff, however, estimating $5 million in sales by the end of the month. The article adds. Read their full report at.

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Cannabis Law Report

NOVEMBER 23, 2021

Mark Kelly – United States Senator. Rosen Leads Bipartisan Effort to Ensure SAFE Banking Act Included In NDAA. Letter from Senate Armed Services Committee Members Urges Committee Leaders to Keep House-Passed Bipartisan Bill Allowing Legal Cannabis Businesses to Access Critical Banking Services in Final Version of NDAA.

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Canna Law Blog

DECEMBER 17, 2019

It’s no secret many cannabis businesses can’t get bank accounts or loans or lines of credit from financial institutions because of the Bank Secrecy Act and federal anti-money laundering laws — despite current FinCEN guidance.

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NORML

APRIL 26, 2019

Click here to email your lawmakers in support of banking access. This measure prohibits employers from arbitrarily discriminating against prospective employees who legally consume cannabis off-the-job in accordance with state law. Update : SB 51 was heard in the Senate Governance and Finance Committee on 4/24/19. CA resident?

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Canna Law Blog

AUGUST 13, 2019

3. Change in local and state laws and rules. Since the state agencies began issuing licenses under MAUCRSA back in January of 2018, the state’s interpretation of its own rules has been unpredictable. Nonetheless, landlords still seem to misinterpret this state law mandate on a number of levels.

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Canna Law Blog

OCTOBER 30, 2019

Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines.

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Connor & Connor PLLC

NOVEMBER 27, 2019

However, despite the federal prohibition roadblock, 33 states have legalized medical marijuana and 11 have voted to legalize marijuana for recreational use as well. One of the first states to legalize recreational marijuana was Colorado, followed by Washington and Oregon. 1] [link] ; [link]. [2] 1] [link] ; [link]. [2]

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Otherside Farms

MAY 5, 2020

As a refresher, in the United States, marijuana is illegal at the federal level. Still, it is legally approved for recreational use in many states and Washington, D.C., Banks typically don’t provide loans to cannabis ventures especially, those directly involved with the plant or its derivatives.

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The Joint Blog

JUNE 15, 2021

Before going deeper into it, make sure you have the license to operate legally in the state you are living in. Know your State Laws. State laws govern whether you can ope rate your cannabis growing business. And different states have different approaches to that. States that have a complete marijuana ban.

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Cannabis Law Report

JUNE 24, 2019

Now — five-plus years and $1 billion in tax collections since recreational marijuana was legalized in Colorado — top Democratic budget writers say they want to change how pot tax revenue is appropriated, recommending new guardrails for a fund that will total $159 million next budget year.

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Cannabis Law Report

JULY 7, 2021

MJXL is designed to seek daily leveraged investment results, before fees and expenses, of two times (2x) or 200% the performance of the Prime Alternative Harvest Index, providing investors access to the global cannabis ecosystem and benefitting directly from widespread medicinal and recreational legalization initiatives. About ETFMG.

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Cannabis Law Report

AUGUST 24, 2019

BANKING: The growth? The Republican-controlled US Senate hosted a hearing on cannabis banking on July 23, 2019. In Who’s Now Lobbying on the SAFE Banking Act? Financial institutions, even in states where cannabis is legal, are usually hesitant to serve cannabis businesses while cannabis remains illegal at the federal level.”

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Cannabis Law Report

APRIL 5, 2022

For years, we have seen the entire Congress include language in budget bills to restrict the use of federal funds by the Department of Justice to take actions that would prosecute entities that sell medical marijuana pursuant to state laws that have legalized the sale of medical marijuana. So the outlook is uncertain.

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Cannabis Law Report

AUGUST 4, 2022

. §856 which states that it is unlawful to lease or lend money on any place involved in using, manufacturing, or distributing any controlled substance. The first question to ask a potential landlord is whether there is an institutional lender, like a Bank of America or U.S. Bank, with a mortgage on the property.

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The Blunt Truth

OCTOBER 22, 2019

As several states and foreign countries have enacted laws decriminalizing or legalizing marijuana for medicinal or recreational use, a fresh rush of reefer madness has overtaken the business world. practicing law in the U.S. 1200 , The SAFE Banking Act, awaits a vote. work here, or apply for a green card.

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Cannabis Law Report

NOVEMBER 6, 2021

As cannabis continues to make its way into the mainstream marketplace, state governments are increasingly legalizing and regulating it for medical or recreational use. Also, understanding the regulatory and compliance framework in your cannabis clients’ states will go a long way toward mitigating your own risk, she said.

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Cannabis Law Report

DECEMBER 12, 2019

Recreational use is becoming legal in a growing number of states. . Thirty-three states have enacted some type of medical marijuana program. Eleven states have legalized the recreational adult-use of marijuana. Federalism questions also arise involving compliance with federal banking and tax laws.

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Cannabis Law Report

APRIL 24, 2019

Let’s begin with the following: STATES Act Becomes Law. The STATES Act passes in Congress, the President signs it and it becomes law which means that in the states where cannabis is legal : Banking system becomes available to cannabis businesses. See The Murky Part of the STATES Act: Tribal Rights ].

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Nature's Way Medicine

MARCH 5, 2021

The letter to government heads of office brings up the fact that fifteen states and D.C. have removed criminal prohibition on medical and recreational marijuana and an additional 33 states permit medical use. Right now the businesses are unable to use banks and are paying cash to the federal government. State News.

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Cannabis Law Report

MARCH 21, 2019

The USDA’s Agricultural Marketing Service Administrator Bruce Summers said last week that the agency will aim to complete the hemp production regulations by fall 2019, in time for states to submit plans for the 2020 spring hemp planting season. House Committee to Vote on Cannabis Banking Bill Next Week.

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Cannabis Law Report

MARCH 17, 2020

As Congress is considering legislation to provide banks with a safe harbor for providing services to those in the cannabis industry, other areas, from financial services to soft drink manufacturers, are actively assessing how the explosion of this new market will impact their products and services.

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Cannabis Law Report

SEPTEMBER 27, 2021

The Cannabis Growth ETF will provide exposure to a sector undergoing global legalization, expanded medical and recreational use, and robust M&A activity. Possession and use of cannabis is illegal under federal and certain states’ laws, which may negatively impact the value of Fund investments.

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SpeedWeed

JULY 17, 2021

The introduction of legislation that would federally decriminalize cannabis would have implications far beyond banking. Federal decriminalization would also enable manufacturing and then shipping across state lines, which would greatly benefit brands like Wana. Co-founder of Cresco Labs.

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SpeedWeed

JULY 17, 2021

The introduction of legislation that would federally decriminalize cannabis would have implications far beyond banking. Federal decriminalization would also enable manufacturing and then shipping across state lines, which would greatly benefit brands like Wana. Co-founder of Cresco Labs.

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SpeedWeed

JULY 16, 2021

The introduction of legislation that would federally decriminalize cannabis would have implications far beyond banking. Federal decriminalization would also enable manufacturing and then shipping across state lines, which would greatly benefit brands like Wana. Co-founder of Cresco Labs.

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Cannabis Law Report

DECEMBER 16, 2021

The CDC promoted a policy that prohibits employees from using marijuana while on the job but recognized that a zero-tolerance policy for marijuana use may not be possible, depending on the relevant state law. Low Percentage of New York Towns Opts Out of Recreational Cannabis. Local municipalities in New York have until Dec.

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Cannabis Law Report

OCTOBER 22, 2019

As several states and foreign countries have enacted laws decriminalizing or legalizing marijuana for medicinal or recreational use, a fresh rush of reefer madness has overtaken the business world. 1200 , The SAFE Banking Act, awaits a vote. The legal cannabis business is spreading like weeds. 4390 and S.

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SpeedWeed

MARCH 10, 2021

Examples such as these underscore the importance of thoroughly researching the state law and local laws of a community before selecting one for your cannabis business. As of November 2020, a total of 35 states and the District of Columbia have legalized cannabis for medical use, and 15 have allowed adult recreational use.

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Cannabis Law Report

AUGUST 31, 2022

Despite the federal status of Delta-8 THC, a number of states have passed laws regulating or outright banning Delta-8 THC and similar products. For example, Delta-8 is illegal in Montana; however, recreational marijuana use is legal. Until then, absent some state law to the contrary, we suppose Delta-8 is ready when you are.

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Cannabis Law Report

JUNE 15, 2022

In addition, the licensees must execute a management agreement with a third-party operator to manage and operate the remaining facilities that the department will continue to permit in compliance with state law. The RSF assessment tool is designed to help OCC and a bank determine customer type for large risk analysis.

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Cannabis Law Report

AUGUST 8, 2019

cannabis is illegal for recreational use and is classified as a Class B drug under the Misuse of Drugs Act 1971. THC (legal term “marijuana”) is classified as a Schedule 1 drug and is illegal under federal law for any purpose (with the exception of FDA-approved research programs) by way of the Controlled Substances Act 1970.

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The Joint Blog

DECEMBER 21, 2020

Federal and State Laws on Drug Test. Marijuana remains classified as a Schedule I drug and is prohibited under federal law. The sad truth is that as a marijuana user, even in states where medical and recreational use is allowed, finding a job is a challenge. At least that is the perception of some 42.8%

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Cannabis Law Report

OCTOBER 6, 2021

MJIN is designed to seek daily leveraged investment results, before fees and expenses, of two times the inverse (-2x) (or opposite) of the performance of the Prime Alternative Harvest Index, providing investors access to the global cannabis ecosystem and benefitting directly from widespread medicinal and recreational legalization initiatives.

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