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.