New Lanton Law Blogcast with Cannabis Insider David Vaillencourt
Lanton Law is excited to announce its new Blogcast with cannabis industry insider David Vaillencourt; CEO and Founder of The GMP Collective.
Lanton Law is excited to announce its new Blogcast with cannabis industry insider David Vaillencourt; CEO and Founder of The GMP Collective. David will be answering questions about the cannabis industry such as:
What are the main challenges?
Lessons learned from his experiences in the industry
What are the emerging regulatory issues?
Click here for the blog cast.
SAFE Banking Act introduced Into the U.S. Senate
U.S. Senators Merkley (D-OR) and Daines (R-MT) have introduced the Secure and Fair Enforcement (SAFE) Banking Act, to ensure that legal cannabis operators have access to banking services. The bill can be viewed here.
U.S. Senators Merkley (D-OR) and Daines (R-MT) have introduced the Secure and Fair Enforcement (SAFE) Banking Act, to ensure that legal cannabis operators have access to banking services. The bill can be viewed here.
According to the press release, the proposed bill prevents federal banking regulators from the following:
Prohibiting, penalizing or discouraging a bank from providing financial services to a legitimate state-sanctioned and regulated cannabis business, or an associated business (such as an lawyer or landlord providing services to a legal cannabis business);
Terminating or limiting a bank’s federal deposit insurance solely because the bank is providing services to a state-sanctioned cannabis business or associated business;
Recommending or incentivizing a bank to halt or downgrade providing any kind of banking services to these businesses; or
Taking any action on a loan to an owner or operator of a cannabis-related business.
Furthermore, the press release states that bill also:
Creates a safe harbor from criminal prosecution and liability and asset forfeiture for banks and their officers and employees who provide financial services to legitimate, state-sanctioned cannabis businesses, while maintaining banks’ right to choose not to offer those services. The bill also provides protections for hemp and hemp-derived CBD related businesses.
Requires banks to comply with current Financial Crimes Enforcement Network (FinCEN) guidance, while at the same time allowing FinCEN guidance to be streamlined over time as states and the federal government adapt to legalized medicinal and recreational cannabis policies.
The House version has already been filed for this Congressional session. Additional background on this bill and issue can be found on Congressman Perlmutter’s website.
Lanton Law is a national boutique law and lobbying firm that focuses on healthcare/life sciences and technology. Specifically our cannabis practice helps all supply chain entities from growers, financiers, suppliers, dispensers to ancillary services.
If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions, contact us today.
Virginia Votes to Legalize the Sales & Recreational Use of Marijuana
Virginia has taken one step closer to becoming the first southern state to legalize marijuana. If enacted Virginia would follow Washington D.C. along with fifteen other states to do so. The proposed legislation would allow the possession of up to one ounce of marijuanato become legal starting January 1, 2024. This would be at the same time as sales and a regulatory scheme overseeing the new marijuana marketplace would take off. The bill is awaiting Governor Northam’s signature who is expected to sign the measure into law.
Virginia has taken one step closer to becoming the first southern state to legalize marijuana. If enacted Virginia would follow Washington D.C. along with fifteen other states to do so. The proposed legislation would allow the possession of up to one ounce of marijuanato become legal starting January 1, 2024. This would be at the same time as sales and a regulatory scheme overseeing the new marijuana marketplace would take off. The bill is awaiting Governor Northam’s signature who is expected to sign the measure into law.
Lanton Law is a national boutique law and lobbying firm that focuses on healthcare/life sciences and technology. Specifically our cannabis practice helps all supply chain entities from growers, financiers, suppliers, dispensers to ancillary services.
If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions, contact us today.
New York Governor Cuomo Announces 30-Day Amendments to Legislation Establishing Comprehensive Adult-Use Cannabis Program in New York
New York Governor Andrew Cuomo has announced in a press release detailing “30-day amendments to the Governor's proposal to establish a comprehensive adult-use cannabis program in New York. Specifically, these amendments will detail how the $100 Million in Social Equity funding will be allocated, enable the use of delivery services, and refine which criminal charges will be enforced as it relates to the improper sale of cannabis to further reduce the impact on communities hit hardest by the war on drugs.”
New York Governor Andrew Cuomo has announced in a press release detailing “30-day amendments to the Governor's proposal to establish a comprehensive adult-use cannabis program in New York. Specifically, these amendments will detail how the $100 Million in Social Equity funding will be allocated, enable the use of delivery services, and refine which criminal charges will be enforced as it relates to the improper sale of cannabis to further reduce the impact on communities hit hardest by the war on drugs.”
New York has been a policy leader along with other innovative states on cannabis. Lanton Law is a national boutique law and lobbying firm that focuses on healthcare/life sciences and technology. Specifically we have expertise in cannabis and CBD related issues.
If you are an industry stakeholder with questions about the current landscape or if you would like to discuss how your organization’s strategic initiatives might be impacted by either Congress, regulatory agencies or legal decisions,contact us today.
November Election Yields Gains for Marijuana Legalization
The result of a few November 3, 2020 election ballot measures have yielded additional gains for marijuana.
The result of a few November 3, 2020 election ballot measures have yielded additional gains for marijuana.
New Jersey: In New Jersey voters approved Question 1, which legalized recreational marijuana.
Arizona: Voters in Arizona approved Proposition 207 which legalizes possession and use of marijuana for adults, age 21 years or older, in Arizona and permits individuals to grow up to six marijuana plants in their residences.
South Dakota: The state has legalized marijuana possession and use for adults 21 and older. It also allows individuals to grow up to three plants if they live in a jurisdiction with no licensed marijuana retailers. It allows distribution and sales, with a 15 percent tax. Additionally, the state legislature would have to pass legislation legalizing medical marijuana and the sale of hemp by April 1, 2022.
Mississippi: Initiative 65A was passed, which restricts medical marijuana to terminally ill patients and would require pharmaceutical-grade marijuana products to have oversight by licensed physicians, nurses, and pharmacists.
Montana: Montana has passed two constitutional amendments regarding marijuana. CI-118 allows for the state legislature or a ballot initiative to set a legal age for marijuana use. Additionally, I-190 allows for marijuana possession use and growing for adults 21 or older. The measure allows for the creation of a regulatory scheme around growing and selling cannabis and imposes a sales tax on these goods.
Lanton Law’s Cannabis practice is more than prepared to assist cannabis stakeholders. Whether you are a public or private cultivator, processor, distributor, dispensary, or an ancillary service related to the medical and/or adult-use cannabis business, we can help.
Lanton Law assists our cannabis clients with the following services:
Offer strategic advice on the federal and state outlook
Contract and lease drafting
Corporate formation & governance
Shareholder agreements
Administrative representation
Trademarks and copyrights
FDA, USDA and FTC regulatory compliance
Banking and finance
Licensing
State and local permits
Lobbying
Investor & early stage company issues
Mergers and acquisitions
Non-Compete and Non-Disclosure agreements
Labor and employment
General counsel services
Lanton Law Opens Cannabis Practice
Lanton Law believes that the cannabis market will continue to evolve and expand. Notwithstanding this market potential is the fact that medical and adult-use cannabis operations are confronted with a complex patchwork of state and federal laws and regulations that we assist a variety of businesses with.
Lanton Law believes that the cannabis market will continue to evolve and expand. Notwithstanding this market potential is the fact that medical and adult-use cannabis operations are confronted with a complex patchwork of state and federal laws and regulations that we assist a variety of businesses with.
Whether you are a public or private cultivator, processor, distributor, dispensary, or an ancillary service related to the medical and/or adult-use cannabis business, we can help.
Lanton Law assists our cannabis clients with the following services:
Offer strategic advice on the federal and state outlook
Contract and lease drafting
Corporate formation & governance
Shareholder agreements
Administrative representation
Trademarks and copyrights
FDA, USDA and FTC regulatory compliance
Banking and finance
Licensing
State and local permits
Lobbying
Investor & early stage company issues
Mergers and acquisitions
Non-Compete and Non-Disclosure agreements
Labor and employment
General counsel services