California Medical Marijuana Surety BondsDiscover information about the Cannabis Bond here.
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Cannabis bonds are also known as medical marijuana bonds. There are two types of legislation that are included this group of bonds. Some states have legislation that include medical marijuana and recreations use of marijuana. It is very important to follow your state's legislation as these tend to change over time. Some states will become more ridgid and some will relax legislation.
In California, the passage of Proposition 215 in 1996 legalized medical marijuana. In 2016, the voters passed Proposition 64. Proposition 64 allowed adults aged 21 years or older to possess and use marijuana for recreational purposes. The measure created two new taxes, one levied on cultivation and the other on retail price. Prop. 64 was designed to allocate revenue from the taxes to be spent on drug research, treatment, and enforcement, health and safety grants addressing marijuana, youth programs, and preventing environmental damage resulting from illegal marijuana production.
California Bureau of Cannabis Control, California Department of Public Health, California Department of Food and Agriculture.
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There are six cannabis licenses issued by the State of California, each of which requires a $5,000 surety bond.
- California Cannabis Cultivation License
- California Cannabis Manufacturer License
- California Cannabis Distributor License
- California Cannabis Retailer License
- California Cannabis Testing Laboratory License
- California Cannabis Microbusiness License
Required Surety Bond.
All licensees must have a surety bond payable to the State of California in the amount of $5,000.00. distributors must also carry a commercial general liability policy in the amount of $2,000,000 no less than $1,000,000.00 for each loss.
Currently there are three cities that require an additional bond. Those are:
- Coalinga - $25,000
- Los Angeles - $5,000
- Shasta Lake - $5,000