Medical marijuana dispensaries are a booming business in Oklahoma. Oklahoma recently made medical marijuana use legal. But these businesses are highly regulated. If you are interested in running a dispensary, it is best that you have legal help throughout the process as even simple mistakes can cost you your license to operate. You will need the help of an experienced Payne County Okla. medical marijuana dispensary attorney. Here are some things that you might need to know about running a medical marijuana dispensary.
Medical Marijuana Dispensaries Face Normal Business Issues
All dispensaries face the normal business issues that all other businesses face. They must choose an organizational form and file all necessary paperwork with the city, county, and state.
Once the form of the business is chosen, depending on the form, businesses may need to draft organizational agreements between the owners of the business, draft articles of incorporation, bylaws, and the like. They must lease a storefront, finance their business, hire employees, and ensure that their business is in compliance with all applicable laws.
But even some of these simpler business issues are made more complicated by the rules and regulations that govern medical marijuana dispensaries in Oklahoma. Usually, a Payne County Okla. medical marijuana dispensary attorney is your best resource for specific information.
Special Issues For Medical Marijuana Dispensaries
Every aspect of medical marijuana from the growing of the product to its sale, to taxes and reporting of sales is regulated by the Oklahoma Medical Marijuana Authority (OMMA). Compliance with OMMA begins with business formation and continues throughout the lifespan of the business.
Applications And Renewals
First and foremost, a dispensary must be licensed by OMMA. OMMA can take up to 90 days to review submitted license applications and renewals. If an application is rejected due to a missing component, the applicant has a 30 day grace period to submit the required information for reconsideration or the application automatically expires.
Dispensaries must meet certain requirements to get a dispensary license, including a residency requirement. New applicants must show proof of residency for the last two years preceding the date of renewal or application or five continuous years of the last 25 years preceding the date of renewal or application.
All owners and investors must be disclosed, and all must undergo criminal background checks. No owner may be under 25 years of age. No owner can be a sheriff, deputy sheriff, police officer or prosecuting officer, or an officer or employee of OMMA or a municipality in which the commercial entity is located.
Dispensaries must provide proof that the business location is at least 1,000 feet from a public or private school. Dispensaries must supply a Certificate of Compliance for their business location. A medical marijuana dispensary may sell medical marijuana or other cannabis-related products provided by licensed processors only.
If the dispensary plans on selling edible products, it must also obtain a separate food license. This license is not obtained through OMMA.
Finally, dispensary applicants must register with the Oklahoma Bureau of Narcotics and Dangerous Drugs Control (OBNDD) after receiving a license from OMMA. This must be done before any medical marijuana products are present at the business location.
Once obtained, the license is for one year and must be renewed annually.
Ongoing Compliance Monitoring Is Required
Keeping the license means ongoing compliance monitoring. This area of the law is in constant flux. Making a mistake can mean the end of your license.
Compliance issues include things such as:
- OMMA licensing, regulations, and compliance;
- OMMA monthly reporting;
- OBNDD registration and compliance; and
- municipal licensing, zoning, and regulatory compliance.
Monthly reporting rules must be adhered to. Also, dispensaries must be careful to manage, track, and transport all medical marijuana and medical marijuana products with software and security measures sufficient to comply with Oklahoma statutes, rules, and regulations. Failure to do so can result in the loss of your license. All product management software programs used by a dispensary must meet OMMA requirements.
Medical marijuana dispensary rules are strict and mistakes are costly. An experienced Stillwater OK attorney is a must in this industry and can mean the difference between success and failure.
Free Consultation With Stillwater Medical Marijuana Dispensary Attorney
A Stillwater medical marijuana dispensary attorney who can help in any aspect of your business is just a phone call away. Your first phone consultation with a Stillwater OK attorney is always free at Wirth Law Office in Stillwater: 405-673-1600.
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