Updates on New York’s Conditional Adult-Use Retail Dispensary Licenses

Updates on New York’s Conditional Adult-Use Retail Dispensary Licenses
CANNANNEW REPORT

On July 14, 2022, the Cannabis Control Board held a meeting, wherein they discussed the regulations and application for Conditional Adult-Use Retail Dispensary Licenses (“CAURD”). At the meeting, the Board approved the CAURD regulations. Despite receiving over 600 public comments on the draft CAURD regulations, the Board ultimately approved of them without making any significant changes. Instead, the Board plans to address all comments and concerns through FAQs and Guidelines. The Board also allegedly plans to address the public comments when drafting the regular adult-use retail regulations. To see a summary of the CAURD regulations, check out our previous blog post here. In addition, the Board also approved of the mock-application for CAURD licenses. Although there is no set date for when the application period will begin, the Board mentioned that a date will likely be announced sometime in August for a start date later this summer. As seen in the mock-application, applicants are required to submit basic information, as well as materials to prove that an individual is “justice involved,” their residency at the time, proof of a “qualifying business,” and financial disclosures of all true parties of interest. The Board also clarified the following requirements: One individual with sole control and at least 30% ownership of the applicant must be (1) justice involved (cannabis-related offense prior to the passage of MRTA), and (2) have a qualifying business (own/owned at least 10% in, and control over, a business for at least 2 years, that had a net profit for at least 2 years). One person must satisfy both requirements. “Justice involved” can be an individual who was arrested for a marijuana-related offense but was ultimately convicted of a lesser charge. Applicants may select a geographic preference, but they will ultimately be assigned a dispensary location. The fact that one individual must satisfy the “justice involved” and “qualifying business”…

Excerpt only …
READ MORE BELOW
Source : Updates on New York’s Conditional Adult-Use Retail Dispensary Licenses

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.