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Banks Get Exposed by New York’s Unlicensed Cannabis Dispensaries

Canna Law Blog

Major banks like JPMorgan Chase and Wells Fargo, as well as landlords such as BentallGreenOak and Ashkenazy Acquisition Corp., While cannabis consumption is legal at the state level in New York, it remains illegal at the federal level. Banks that have financed properties with unlicensed cannabis tenants could also face repercussions.

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Social use cannabis is now permanent in Denver, opening the door for new business.

MJ Business Attorneys

While Colorado voters previously passed a bill to allow social use businesses, it was a four-year pilot program that was set to expire in 2020. This coupled with the financing, leasing and banking challenges that cannabis businesses face was discouraging the creation of new business.

Business 100
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Apple Says Yes To Cannabis Apps On Their Store

Cannabis Law Report

A marijuana app must be geo-restricted to jurisdictions where cannabis is legal, and the program must be “submitted by a legal entity that provides the services, and not by an individual developer.”. Apps that encourage consumption of tobacco and vape products, illegal drugs, or excessive amounts of alcohol are not permitted on the App Store.

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The Week in Weed: April 24, 2020

The Blunt Truth

Among the findings of the report: in some states where cannabis is still illegal, African-Americans are ten times more likely to be arrested than whites, even though consumption rates are practically identical. For more on social equity issues, see our post from February that examines programs around the country. marijuana banking.

Banking 101
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The Economic Impact of the Medical Marijuana Industry: Trends and Projections

MMJ Recs

Recent trends indicate a growing interest in alternative forms of consumption, such as edibles, topicals, and concentrates, in addition to traditional flower products. Banking and financial restrictions pose challenges for businesses, limiting access to essential services and hindering investment opportunities.

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Resource Innovation Institute Releases First-of-its-Kind Handbook for Utilities and Efficiency Program Implementers Serving Cannabis Cultivators

SpeedWeed

Cuomo’s administration projects that legalization could generate 30,000 to 60,000 jobs across New York and that tax collection from the program could reach $350 million annually, the release states. Local governments are permitted to opt-out of retail dispensaries or on-site consumption licensing by Dec. View original article.

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In Case You Missed It: Key Marijuana Law Developments in 2022

The Blunt Truth

The New York Cannabis Control Board approved the filing of new regulations for the state medical marijuana program. Under the new regulations: Operation of the medical marijuana program will shift from the Department of Health to the Office of Cannabis Management. February 17, 2022. Does not limit on the number of licenses.

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