- July 1, 2021
- Posted by: Stratford Team
- Category: Business
On May 18, 2021, Governor Kevin Stitt signed House Bill 2272 (the “Act”), assigning new protective procedures in the medical marijuana industry in Oklahoma. The Act (1) creates an attestation requirement disclosing any foreign interests a licensee holds in the medical marijuana industry, (2) authorizes the Oklahoma Medical Marijuana Authority (OMMA) to conduct on-site compliance checks, and (3) mandates inspections to certify that certain licensees are actively operating. This is a step forward for Oklahoma’s medical marijuana industry, as it eliminates the involvement of certain bad actors and creates fairer competition among business licensees.
Original form of the Act
The version of the Act passed by the House in March was markedly different from its final form. Included was more stringent oversight like artificial caps on the number of business licenses issuable by OMMA and monetary benchmarks required to maintain licenses….