Cannabis Law Newsletter by HK Cannabis Law – December 10, 2021

In today’s HK Cannabis Law Newsletter, we present an article from the HK Cannabis practice group with tips for drafting cannabis-related contracts, an update on federal cannabis banking reform, California’s latest attempt to prop up the legal market, and more!

  • Although the Federal prohibition is a well-known problem in the cannabis industry, state and local laws regarding illegal activity can pose lesser known but equally problematic hurdles when it comes to attempting to enforce a contract relating to commercial cannabis. Careful drafting can help savvy market participants avoid these hurdles.

  • The most recent draft of the National Defense Authorization Act did not include language regarding cannabis banking reform that had been included in prior iterations of the bill.

  • Cannabis businesses have been hit particularly hard by the recent spate of retail robberies.

  • The legal cannabis industry in California continues to struggle as it competes with its illicit counterparts. In response, the California legislature has approved $100 million in spending to help licensed cannabis businesses successfully navigate the transition from provisional to regular licenses, with the hopes that such assistance will bolster the legal market.

  • Standardized THC testing could be coming to California cannabis labs.

  • Find out what Northern California industry leaders think about the state of the cannabis industry in this question and answer with the North Bay Business Journal.

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