To obtain a medical marijuana facility license, applicants must provide their business registration and corporate governance documents to the state and local municipality. At a minimum, it is important to provide this information in order to submit a complete application and avoid any unnecessary delays. However, rather than rushing to adopt a generic operating agreement, standard form bylaws, or other boilerplate corporate documents for the sake of submitting an application, it is more important to take the time to select the appropriate form of business entity, precisely define the roles and responsibilities of each owner, and carefully establish the company’s management and operating procedures. In such a highly regulated industry, medical marijuana facility license applicants should make it a priority to be proactive and develop a solid corporate governance strategy for the business to help the company reach its short- and long-term goals prior to applying for a license, if possible, and certainly well before actually obtaining one.
Our team of cannabis attorneys are experts in municipal and state compliance under the Michigan Marihuana Facilities Licensing Act, and we are able to deliver the precise type of specialized legal advice and counsel necessary for those seeking medical marijuana licenses. Our services include: assistance with selecting the proper business structure; entity formation; and drafting operating agreements, bylaws, and other corporate documents that will define the relationships between the owners and establish rules and standards to follow to ensure the success of the business while also addressing unforeseen issues that can—and will—arise in the future.