Cannabis Business

The Most Recent Update on the SAFE Banking Act

2020-01-24T15:13:06-05:00January 24th, 2020|

The Secure and Fair Enforcement Banking Act of 2019 passed the House of Representatives this past September with bipartisan support. This marked the furthest advancement of access to banking and financial services for cannabis related legitimate businesses. Though the bill passed by a vote of 321 to 103 in the House or Representatives, it appears [...]

How to Get In the Legal Cannabis Industry Without Being a Supplemental Applicant 

2020-01-16T10:53:26-05:00January 17th, 2020|

The supplemental individual prequalification application for a medical cannabis facility license consists of 8 disclosures, including: 1 year of financial information, 3 years of tax compliance, criminal history, 7 years of litigation history, and more. The supplemental individual prequalification for an adult-use/recreational marijuana business has fewer requirements such as disclosure of 12 months of tax [...]

MRA Introduces Proposed Marijuana Rule Sets

2020-01-14T10:46:52-05:00January 14th, 2020|

Soon, the Marijuana Regulatory Agency (MRA) will hold a public hearing to receive public comment on the proposed combined topic-based rule sets. The proposed topic-based rule sets are intended to provide clarity/consistency to those working in both the medical and adult-use markets. The rule sets provide for the implementation of a program to license medical [...]

Examining the First Week of 2020 for the Michigan Cannabis Industry

2020-01-13T09:56:14-05:00January 10th, 2020|

As of Jan. 2nd, 2020, Michigan's Marijuana Regulatory Agency (MRA) has issued 54 recreational marijuana business licenses, including 27 to retail stores. This is nearly double the number of licenses that were expected to be issued by Jan. 1st, according to the agency. Recreational Marijuana Sales  Recreational (adult-use) marijuana sales in Michigan neared $6.5 million [...]

Recreational Marijuana Home Delivery Available in Michigan

2020-01-06T11:17:33-05:00December 30th, 2019|

Soon, recreational marijuana will be able to be delivered to homes in Michigan. The Marijuana Regulatory Agency (MRA) approved the first three businesses for adult-use home delivery this week: Lit Provisioning Centers in Evart, Battle Creek Provisioning in Battle Creek and Nature’s ReLeaf in Burton. How Can You Get Marijuana Legally Delivered to Your Home? [...]

Where Can I Buy Recreational Marijuana in Michigan?

2020-02-12T09:22:39-05:00December 9th, 2019|

On Dec. 1st, hundreds of people lined up in Ann Arbor to buy marijuana during the first day of Michigan’s legal adult-use (“recreational”) sales. The first day raked in approximately $221,000 in profits, marking a successful first day for sales of recreational product. This is despite there only being three provisioning centers (“dispensaries”) licensed to [...]

Requirements for Licensed Cannabis Businesses on Selling Marijuana Vape Pens

2019-12-05T14:43:23-05:00December 5th, 2019|

On Wednesday, Nov. 27th, 2019, the Marijuana Regulatory Agency (MRA) released a technical bulletin in accordance with Rule 3 of the Emergency Rules for Manufacturing of Marihuana. This bulletin advises licensees on the requirements for selling marijuana products “intended for inhalation” (aka THC containing products that can be vaped). On Nov. 22nd, the MRA issued [...]

What Can I Do with a Marijuana Product if it Fails Testing?

2019-11-20T09:20:27-05:00November 20th, 2019|

The Marijuana Regulatory Agency (MRA) released a technical bulletin on Friday, Nov. 15th to advise licensees on the process for dealing with a failed marijuana product(s).  When a marijuana product fails testing, a licensee has two options for the failed product, according to Rule 46 (R 333.246) of the Administrative Rules under the Medical Marihuana [...]

What is the 10% Rule for Michigan Cannabis Licenses? 

2019-11-14T10:56:44-05:00November 13th, 2019|

All Michigan cannabis licenses start with a prequalification application. Prequalification is the State of Michigan’s background check process for entities and individuals hoping to own and operate marijuana establishments. Prequalification involves a significant audit and review of the applicant entities financial and operational history, as well as a review of all significant stakeholders and their [...]

Annual Financial Statements Required by the MRA for FY 2019

2019-12-09T15:23:12-05:00November 11th, 2019|

The Michigan Marijuana Regulatory Agency (MRA) recently issued a bulletin to announce the required annual financial statements for fiscal year 2019, pursuant to Section 701 of the Medical Marihuana Facilities Licensing Act (MMFLA). This much anticipated guidance outlines the financial reporting requirement for licensees. Filing the Annual Financial Statements Per the MRA bulletin, requirements for [...]

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