Ohio Medical Marijuana Cultivators Surety Bond

Written by JoAnn Smith on . Posted in Surety Bond Blog

Florida pot growers will need performance bonds.

Ohio Pot Growers will need a Surety Bond

Ohio Surety Broker Set to Offer The Ohio Medical Marijuana Cultivators Surety Bond. In September, 2016, The Ohio Legislature and Governor John Kasich approved the medical marijuana program. Ohio Medical Marijuana Control Program is the official State agency promulgating the rules and regulations for the Cultivators.  They will be accepting applications for the Cultivators in June.  For Level II cultivator June 5 – 16, 2017.  Level I cultivator applications will be accepted June 19-30, 2017.  The cultivator must show financial responsibility by means of an escrow account or a Surety Bond.  Level II requires $75,000.  Level I required $750,000 of a surety bond or escrow account. To control supply and ensure ample production, licensees need to exhibit sufficient resources to address the significant risk within the marijuana industry. Failure to thrive can directly affect the ability to provide products to patients. Requiring security resources ensures that the industry can withstand risk within these first years and protects the ability of patients to receive safe, quality products. The BuySurety team is ready for your Ohio Medical Marijuana Cultivator Surety Bond application.   Cultivators may apply for the bond at www.buysurety.com or call 1-800-600-9240.  We will need financials with cash verified via bank statements and background on experience of personnel.

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