Oklahoma Cannabis Licensing Moratorium bill passes House
HB 3208 proposes a two year moratorium on Oklahoma Cannabis business licensing for dispensaries, processors, and commercial growers. The bill passed its house committee yesterday and now moves on to the senate.
A moratorium is the temporary prohibition of a particular activity. HB 3208’s proposed moratorium targets Oklahoma cannabis business licensing, and would prohibit the Oklahoma Medical Marijuana Authority from processing or issuing any new dispensary, processor and grow licenses beginning August 1st, 2022.
A. Beginning August 1, 2022, and ending August 1, 2024, the Oklahoma Medical Marijuana Authority shall, based on the number of current medical marijuana business licenses for dispensaries, processors, and commercial growers, declare and establish a moratorium on processing and issuing new medical marijuana business licenses for dispensaries, processors, and commercial growers.
-HB 3208
Cornwell, West (Josh), Bashore, and Kendrix of the House
and Paxton of the Senate
All applications submitted on or before August 1st, 2022 would be reviewed and processed. Although the bill establishes the moratorium as being two years in duration, if the Executive Director determined all pending licensing reviews, inspections, or investigations have been completed by OMMA, she could terminate the moratorium any time prior to August 1st, 2024.
Business license renewals and business license transfers would not be affected by the proposals in HB 3208. A business license transfer updating the ownership and or location information would be the only way to obtain a license or expand your existing operation throughout the duration of the moratorium.
If you are planning to apply for a dispensary, processor or grow license in Oklahoma this year, HB 3208 is a bill you’ll want to follow closely to plan and make sure you time it right.
Since founding our firm shortly after SQ 788 passed, cannabis business licensing has been at the core of initiating long lasting client-relationships. The volume of cannabis business license transfers our office is executing this year is already increasing rapidly. With these transactions comes more to consider, especially as it relates to the details of your purchase sales agreement. We are experienced with every aspect and avenue of cannabis business licensing and can successfully navigate the licensing process for your business, moratorium or no moratorium.
Have questions about or looking for a legal team to assist you with Oklahoma cannabis business licensing, business license transfers and beyond? Schedule a consultation or contact us today.
