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Ohio entrepreneurs applying for medical marijuana business licenses in Ohio can turn to Marijuana Surety Bonds.com for their surety bond needs. Ohio Surety Bond approvals available for your Medical Marijuana License Application Submissions and you can get your approval in one day! Estimated pricing for good credit applicants: Premium at 5% of face value. Final price will vary depending on credit evaluation and market forces. Marijuana Surety Bonds.com can also provide the General Liability and Product Liability insurance required for Ohio Medical Marijuana License Applicants.
Ohio’s medical cannabis law requires applicants to demonstrate their financial stability by showing escrow account balances of $750,000 for a Category 1 Cultivation license and $75,000 for a Category 2 cultivation license. In lieu of capital, companies also may post a surety bond issued by Marijuana Surety Bonds.com as an authorized surety bond company. Ohio’s MMJ program, which the governor signed into law in June 2016, is expected to be operational by the third or fourth quarter of 2018.
Marijuana Surety Bonds.com is ready to take applications for the surety bonds for Arkansas Medical Marijuana Licenses. Pricing is not yet estimated for this new market.
On November 8, 2016, 53% of Arkansas voters approved a medical marijuana initiative. Issue 6, the Arkansas Medical Marijuana Amendment of 2016, will allow seriously ill patients to use and safely obtain medical marijuana with their doctors’ approval. Under the new regulations, Arkansas will be open for medical marijuana businesses. The state will allow at least four (4) but no more than eight (8) cultivation facility licenses and at least twenty (20) but no more than forty (40) dispensaries, all of which will be regulated by the Alcoholic Beverage Control Division. The main requirement for owning a medical marijuana business is you need to be a current resident of the state and have been living there for at least 7 years prior to applying for a license.
As of right now, the state has 120 days to adopt rules concerning the licensing and regulation of dispensaries and cultivation facilities and shall begin accepting applications by July 1, 2017.
The state will allow potential business owners to open a dispensary in Arkansas. Whether this is possible or not will hinge entirely on the city and/or county of choice, as the state allows the local municipalities to ban or place moratoriums on whether to license marijuana retailers for operation or not. Applicants for a dispensary license shall provide proof of assets or a surety bond in the amount of $200,000.00, and proof of at least $100,000.00 in liquid assets.
There will be a $7,500 fee at the time of application in which only half or $3,750 is refundable. The license fee is $25,000 for Cultivating Dispensaries and $2,500 for Non-Cultivating Dispensaries.
Our rep Barbara was superb! She got us approved in minutes at an extremely affordable rate. Way less expensive than other quotes we got, plus she's a joy to work with.
A lot of the larger bond companies won't do marijuana surety bonds, or charge you twice what Marijuana Surety Bonds charged us. Highly recommend you compare before you buy. You won't regret it.
Hardily recommend Barbara and her staff. Quick response times and turnaround on a new bond happens super fast. We've actually used them for multiple bonds--not just marijuana surety bonds.