Cannabis Law Blog

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Cannabis banking hopes remain shaky following much-anticipated Federal Appeals Court ruling

After a long wait, a much-anticipated cannabis banking decision by the 10th Circuit Court of Appeals is in the books. On June 27, 2107, the Fourth Corner Credit Union, sometimes referred to as the First Bank of Pot, won a reversal and a legitimate possibility of ultimately obtaining the master account from the Federal Reserve that it needs to conduct business. Nonetheless, cannabis businesses hoping for a breakthrough in their ability to access conventional financial institutions lost big. The one thing that the entire three-judge panel could agree on in the case was that a financial institution serving "marijuana-related businesses" ("MRBs") would violate federal drug laws. This threatens t

California's Cannabis Insurance Field of Dreams

If you build it, they will come. At least that is what the California lawmakers examining the insurance needs of the state's burgeoning cannabis industry are hoping. In multiple moves over recent weeks, officials have made clear their expectation that insurers begin treating the industry as they do any other legitimate line of business - whether or not the insurers are ready to do so. The Bureau of Medical Cannabis Regulation (BMCR) recently published its proposed licensing regulations for medical cannabis. Section 5108 of those proposed regulations set forth insurance requirements that the BMCR seeks to impose on all medical marijuana distributors. The penalties for non-compliance are to



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