SQ 788 also opens path for new medical marijuana businesses

Jason M. Kreth is a litigation attorney with the law firm of Phillips Murrah in Oklahoma City.

SQ 788 also opens path for new medical marijuana businesses

Q: What type of new business opportunities exist now that SQ 788 has passed?

A: The approval of SQ 788 enacted a series of new statutes that take effect July 26. Aside from provisions related to the acquisition of a medical marijuana license for individual use, the statutes also provide a framework for the approval of new medical marijuana businesses. These business are: retailers or dispensaries of medical marijuana; commercial growers of medical marijuana; processors of medical marijuana into concentrated, edible or other forms; and medical marijuana researchers. In addition, the Oklahoma State Department of Health has published its draft proposed Medical Marijuana Control Program regulations which, if implemented in their current form, would provide for the licensure of laboratories to test and approve various medical marijuana products. However, both the statutes implemented by SQ 788 and the regulations proposed by Department of Health are still subject to change.

Q: What are the main requirements that must be met in order to obtain a license as a dispensary, commercial grower, processor or researcher?

A: In each case, an individual or entity wishing to obtain a license to operate as a dispensary, commercial grower, or processor, must submit an application to the Oklahoma State Department of Health along with a $2,500 fee. The application must establish that the applicant: is 25 or older; is an Oklahoma resident, in the case of entities, that all members, managers and board members are Oklahoma residents and that no more than 25 percent of its ownership is out-of-state; is registered to conduct business in Oklahoma; and isn’t incarcerated and doesn’t have either a nonviolent felony

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