OCM TO BEGIN ACCEPTING CONDITIONAL ADULT USE PROCESSOR APPLICATIONS
Cannabis and the Law Foley Hoag LLP Posted on June 23rd, 2022 by Cecilia Oyediran The Cannabis Control Board (the “Board”) held a public meeting earlier today during which it advanced several key components of the innovative Seeding Opportunity Initiative, which positions individuals with prior cannabis-related criminal offenses to make the first adult-use cannabis sales with products grown by New York farmers. Here are some key takeaways from the meeting: During the meeting, the Board voted to establish the application and licensing window for the Adult-Use Conditional Processor license. Pursuant to the legislation signed by Governor Hochul in February, which we wrote about here, processors who hold a Cannabinoid Hemp Processor license from the Office of Cannabis Management (“OCM”) qualify to apply for the adult-use conditional processor license. To be eligible to apply for a conditional adult-use processor license, a processor must: Have applied for a cannabinoid hemp processor license before January 1, 2022; Hold an active cannabinoid hemp processor license issued by the OCM; and Have an ownership interest of 51 percent or more of the entity that is the licensee. The Adult-Use Conditional Processor license authorizes the license holder to process and distribute their own cannabis products (over 0.3% THC) for a period of two years or until they transition to a non-conditional processor license. Processors are required to participate in a mentorship program for social equity applicants and an environmental sustainability program. The application window will open on Tuesday, June 28 and close on Wednesday, August 31. The mock-up of the online application form can be found here. Other meeting highlights include the approval of an additional 41 conditional adult-use cultivator licenses as well as the appointment of Damian Fagon as Chief Social Equity Officer, discussed further below. Approval of Additional Conditional Adult-Use Cultivator Licenses Since opening the Conditional Adult-Use Cultivator application window on March…
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